REVIEW OF

CORN TRADE

OF THE
DURING THE PAST MONTH.

(cost and freight included), new 528., red at Cologne 43s. 6d., at Romanshorn (in Switzerland) 51s. 6d., the best heavy red at Pesth (in Hungary) 38s., and inferior 34s. 6d., mixed at Alexandria 338. 3d., red at Trieste 40s., at Vienna 42s. 6d., at Parma 45s., at Algiers 46s., spring red American at New York 46s. (cost and freight), Western 478. (cost, freight, &c.).

The first Monday in Mark Lane commenced on a moderate supply of English wheat, with a large import from abroad. The show of samples on the Essex and Kentish stands was moderate, but the trade opened very dull at a decline of 18. to 28. per qr. from the previous Monday's rates. In foreign there was but a retail demand at a reduction of ls. per qr. With cargoes afloat there was a moderate business at the quotations of the previous week. The further reduction of prices as noted in London took the country almost by surprise, but the metro

half the country reports were eventually in consonance with it, the remaining half yielding to the extent of 1s. per qr. Liverpool gave way. 5d. per cental for the entire week. Glasgow was 6d. per qr. lower; but at Edinburgh no alteration was noted. The prices of native wheat in Dublin were irregular, but foreign was decidedly 6d. per barrel down.

The month of October has been a kind of little year by itself, from the great transitions in its temperature, and the character of the weather. With many sunny and oppressively-warm days, we have passed to sudden frosts and biting winds, finishing seasonably cold and foggy. Though a sad sacrifice of life and property has been sustained by the shipping interests, agriculture has not fared badly, as there has been plenty of opportunity for fieldwork and wheat-sowing; but the progress of vegetation has now pretty well ceased. It has been a heavy month to the wheat trade, notwithstanding a somewhat deficient crop, foreign importations arriving on too large a scale for consumption, and not being freely taken by speculators. The first and second weeks were both declining, though some reaction appeared on the third; but, as a whole, there has been a loss of value from 1s. to 2s. per qr. The point of depression is, however, now thought to be reached, though before Christ-politan influence was insurmountable, and about mas expectations cannot run high. Yet, as spring opens and foreign ports get ice-bound, a more cheerful state of trade is probable, with higher rates. It is, indeed, not surprising that the corn trade should be in sympathy with the general state of business, which leaves so many hands without employment. But consumption on a large scale nevertheless goes on, and will eventually tell as granary stocks lighten. The potato crop again turns out badly as respects keeping qualities; and though this may force sales for a time, from growers' fears, its effects cannot fail to be found out. The cattle disease, too, though not on a scale like the murrain, must keep up the price of meat and throw consumption more on farinaceous food. Nor are signs wanting abroad of a possibility of better times. France is recovering from the recent depression, and nearly all the Baltic ports, though stimulated to make shipments by the approach of winter, have risen about 1s. per qr., and nothing now pays that reaches our shores. The United States report less favourably of their crop of wheat in the West, which has partially suffered from rain, and, with a generally poor crop of maize, the low sorts are more likely to be wanted at home than forwarded on British account. These considerations, with a break in the canal, have diminished supplies at New York, where prices have been rising; and our own receipts thence have greatly fallen off. So now, with an average of 478., we are below the average of the last twentyone years 5s. 6d. per qr., while stocks of old in this country and abroad have been nearly cleared out. The following were the recent prices quoted at the several places named: White wheat at Paris 54s., red 498., white at Bordeaux 47s. 6d., red currently in Belgium 478. to 50s., white New Zealand at Rotterdam 47s., old 60s.; red wheat at Hambro' 49s., white 50s., new red at Rostock 49s. (cost and freight), old 538., old high mixed at Danzig 588.

On the second Monday there was again but a moderate arrival from the country, but the foreign imports were still more extensive from almost every quarter. The show of samples during the morning was very limited, but the demand was equally 80, factors for a long time only asking former rates, without finding custom, and to sell at all it was quite necessary to accept of another shilling decline, though some preferred holding. Foreign, from the quantity offering, was very dull and also 1s. lower. excepting choice old qualities of Danzig. Cargoes afloat were little in request, and 1s. per qr. easier. The country trade, again influenced by London, was generally very dull, and some places resisted any further decline. A few accepted a reduction of 18. to 2s., as Barton, Monmouth, Newark, and Hull; but on Friday there was some revival at Liverpool, prices being quoted 1d. to 2d. per cental higher, and the same indications were evident in London. Both Edinburgh and Glasgow this week were down Is. per qr. At Dublin Irish wheat was dull, and American red sold at 6d. per barrel decline.

On the third Monday there was again a moderate show of English wheat, with large importations from abroad. With a short supply exhibited on the Kentish and Essex stands, there was a much better feeling evinced, and factors asked fully is. per qr. beyond the rates of the previous week, which millers ultimately paid, the opinion gaining ground that prices had about touched their lowest. American red also found ready purchasers at 18.

THE FARMER'S MAGAZINE.

per qr. advance, and so did some white qualities of foreign, the trade altogether being more cheerful with higher prices demanded. Floating cargoes evinced a partial recovery from the late depression, to the extent of 6d. and even 1s. per qr., on fine qualities. The country markets were not slow to follow the advices of London, and several exceeded them, being 1s. to 2s. dearer. Among these were Wakefield, Birmingham, Boston, Louth, Lynn, Stockton, and Barnsley, and the advance of 18. was general, though some only noted a slight improvement or better feeling. Liverpool gained 2d. per cental on Tuesday, but strangely lost it again on Friday. Edinburgh was rather dearer. Glasgow was 1s. to 18. 6d. per qr. higher. The difference noted at Dublin was an advance of 6d. per barrel on all qualities of wheat.

The fourth Monday commenced on a moderate supply of home growth, with large arrivals from abroad. The number of fresh samples exhibited on the Kentish and Essex stands was limited. The market opened dull, chiefly from the heavy foreign arrivals, and the improvement noted by some houses on Friday was lost, it being difficult even to make the previous Monday's rates. Foreign was much in the same case, notwithstanding a large attendance from the country; but the sales made were at unaltered prices.

and might have been bought at 6d. per qr. less than the price paid at the commencement-say, about 25s. to 26s. per qr. The imports into London for four weeks were 8,651 qrs. British, 24,330 qrs. foreign, against 15,345 qrs. British, 40,761 qrs. foreign in 1868. Very little Scotch has yet come to hand.

The malt trade has been inactive all through the month; but quotations have been nominally the same. The want of employment on the part of so many labourers appears to have pressed heavily on this trade, and has no doubt prevented a rise in barley.

We have again had immene supplies of foreign oats, but nothing from Scotland, while English and Irish included have little exceeeded 12,000 grs. Prices have been shaken severely, new having given way 2s. 6d. per qr., and old on the balance about 1s. The last market indicated a slight reaction in favour of fine Swedish new, which were wanted; but the constant arrival of old Russian sorts has brought the price of such as weigh 38lbs. per bushel to about 21s. 6d. per qr., with only a slow sale on these low terms. The absence of Scotch supplies is in keeping with the reports of the northern harvest, which were unfavourable. Prices have now come down to such easy rates, that it does not seem likely they will go lower, excepting in times of a temporary foreign glut, more especially as English growers find they can do better at home than by sending to London. The imports for four weeks into London were 6,188 qrs. English, 6,196 qrs. Irish, 243,052 qrs. foreign, against 3,093 qrs. English, 79 qrs. Scotch, 32,124 qrs. Irish, 143,151 foreign in 1868. So our foreign imports have nearly doubled.

The London supply for four weeks was 27,835 qrs. English, 168,214 qrs. foreign, against 29,758 qrs. English, 96,330 qrs. foreign for the same period last year. The imports for four weeks into the kingdom to the 16th October were 3,499,182 cwts. wheat, 464,406 cwts. flour. The London exports during the month were 510 qrs., the ave-qrs. rages commencing at 50s. 5d., and ending at 478. 8d. per qr. The general averages began at 50s. 6d., and left off at 47s. per qr.

The flour trade during the nonth has little changed. The first Monday being abundantly supplied with country and foreign sorts, they gave way 1s. per sack; but this was subsequently recovered, when foreign arrivals decreased. The best Norfolks closed at 33s. per sack, and the top price of town-made has continued 47s. per sack all through, the best barrels being held at 268. The imports into London for four weeks were 84,397 sacks from the country, 5,644 sacks 24,999 barrels foreign, against 83,051 sacks country, 4,994 sacks 2,808 barrels foreign for the same time last year.

Maize has been in very good supply through the month, with trifling fluctuations, leaving prices much as they were at the commencement, good yellow being worth from 29s. to 30s. per qr. With an increased knowledge of this grain as horse food, the demand has continued on a large scale. The imports into London for the month were 91,803 qrs., against 40,255 qrs. for the same period in 1868. The supplies of barley have improved both as respects British and foreign qualities. The demand for malting sorts has been unusually slack for the season, maltsters apparently waiting in the hope of getting into stock on better terins; but this does not seem very likely, the crop being less than expected, and the last market, with the best supplies, having an aspect of firmness that was wanting in those previous. Grinding foreign, however, slackened,

As respects beans, but little alteration has to be noted, this pulse not arriving plentifully from our own counties or abroad; but rates have given way about 1s., from the fact that they have declined in Alexandria to 32s. 6d., though the crop in Egypt this year is said to be deficient. They are now relatively dear (say 40s.) as compared with English new and also maize and barley, and we think, on better receipts from Kent and Essex, the price will still go down. The imports this month into London have been 3,132 qrs. English, 4,915 qrs. foreign, against 3,177 qrs. English, 11,915 qrs. foreign in 1868.

Peas, though not in active request, have also little changed in value, though 18. less than at the commencement of the month. The new crop has been exceedingly unequal, and the grain small. Boilers, being still moderate, are not likely to recede much, the best new not being worth over 448., and foreign 42s., so for feeding purposes they serve to compete with beans. But few duns or maples have yet come to market, and their high rates are against an active demand. The imports for four weeks were 3,111 qrs. English, 2,528 qrs. foreign, against 1,933 qrs. English, 8,386 qrs. foreign in 1868.

Though the linseed supplies have improved, they have not been heavy enough to reduce prices; but the sale of seed has continued very slow. Cakes, on the other hand, have met with a constant and fair demand, at fully as much money.

Tom Sayers

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A. "Rizal. " Black faved, ram, the property of Mr. John Irving, of Rap Alley. Bap We in island.

London Published by Regerson & Tuxford 265, Strand. 1869