REVIEW OF THE CORN TRADE DURING THE PAST MONTH. In October we were anticipating a favourable seed-time, | the work then having partially commenced; but the month of November we are sure to remember as the period of great variations in the temperature, and truly disastrous in its storms and floods, both at sea and on the land. In Somersetshire they estimate the recent fall at one thousand tons of water per acre; and while the ground has thereby become woefully sodden, the surface-water has played havoc in the rising of neighbouring rivers, which have overflowed their banks, not only to the detriment of field-labour, but with serious damage to the lives of both human beings and of cattle. We must, therefore, give up the hope of much being done before Christmas; and spring wheat and barley seem destined to be the principal crops in the new year. Had our granaries been empty, such events would have had a marked influence on prices, and a ten shilling rise would have been pretty certain. But importers here or exporters in foreign ports have injudiciously sent unusual quantities to our coasts, till we have become positively short of room for the increased stores, and so bit their own fingers by their haste. Yet Mr. Scott, as well as ourselves, quite believes in heavy necessities for the present season, he laying them at 12 million quarters, and we at 11 millions, and we think it quite possible he may be nearest the mark. As yet these premature arrivals have kept pouring in at such a rate that our small markets of English corn have not been able to prevent a further retrograde movement of 1s. to 2s. per qr.; but as the weather has recently changed to cold, the Baltic may soon be permanently closed, and give a breathing time to the trade. Will the 11 or 12 millions be forthcoming? is the prominent question. We think they will; but not unless better prices entice them, for we now are told that the two principal sources of our supply, Russia and America, are at fault, by reason of the last deficiency, and it will be a great thing if the gap they leave is filled up. Besides we are not alone in the backwardness of our sowings, but it is so in France, Belgium, and some other places, and the influence of this fact is shown in hardening values there. The potato crop, too, has been an unsound one, and should severe weather come, very much of it is likely to rot away. farmers are not likely to overlook these things, or press their best samples for sale; but the landlord's claim for rent will, no doubt, keep up moderate supplies as long as possible. The following were the rates recently quoted at the several places named: White wheat at Paris 51s., at Bordeaux 478.; Berdianski at Marseilles 47s. 10d.; Polish wheat at Antwerp 478. 6d., winter American 49s. ; old wheat at Liege 52s., new 48s.; new wheat at Maestricht 46s.; red at Hambro, 44s., at Stettin 43s. 6d., at Berlin 43s. 6d., at Cologne 45s., at Vienna 438.; old wheat at Strasburgh, 52s., new 50s.; at Breslau, 39s., at Petersburgh 42s. 2d.; fine heavy wheat at Pesth 433.; find old at Dantzic, 57s. cost, freight, and insurance, new 53s. 6d. cost, freight, and insurance; No. 1 spring at New York, 40s. per 480lbs. Well-to-do The first Monday in Mark Lane opened on a small supply of English wheat, but the foreign arrivals amounted to nearly 92,000 qrs., of which 60,000 qrs. were from Russia, and 12,000 from America, with fair contributions from other places. During the morning there was but a limited show of fresh samples from the near counties, a large proportion of which was in very poor order. Fine lots and such as were dry went off slowly, at about the previous currency, but such as were damp were difficult to place, even at reduced rates. The enormous arrival of foreign almost paralysed the trade; and Saxonska quality being most abundant, its value gave way 1s. per qr., while in other sorts sales were quite checked. Cargoes off the coast, however, were unaltered in value. The heavy arrivals in London and its dull reports, did not make much change in the country, where trade was certainly quiet, though prices of dry samples scarcely underwent any change. Livepool declined 1d., each market making the week's reduction 2d. per cental. Leith and Edinburgh were 1s. dearer, but the other Scotch market noted no change. Dublin was dull for wheat, with prices barely maintained. The second Monday opened on slightly improved supplies of English wheat, but the foreign, though ample, were not equal to half the previous week's arrival, Russia and America again taking the lead as to quantity. The morning's show of fresh samples was moderate in quantity, without any improvement as respects condition; yet the scarcity of fine enabled factors to place such at the previous prices, while the rest were of uncertain value, and scarcely saleable. The foreign trade remained very slow, but holders were indisposed to lower rates on such a heavy market, and very little business was done. moderate arrivals off the coast, floating cargoes were not offered at less money. The weather continuing rough, though the country markets were not heavily supplied, prices were barely maintained, and several gave way 1s. per qr., Among these were Louth, Market Rasen, Spalding, &c. Liverpool again gave way 2d. per cental during the week. Glasgow noted a decline of 1s., but Edinburgh and Aberdeen were unaltered, though dull native wheat at Dublin was much the same, and foreign rather cheaper to sell. With On the third Monday the English supplies were reduced, but the foreign again amounted to 75,000 qrs.; a large portion still from Russia and America, with a generally good supply from very different countries. The fresh samples exhibited this morning from Essex and Kent were still moderate, though this time there was a greater proportion in fair order; but even these, from the great abundance of foreign, were only placed, at the close of the market, at 1s. decline, and it was impossible to make sales of foreign without a like reduction. There was very little demand for floating cargoes, but they were not offered lower. With the weather still wet, bad condition was the ruling feature of the country markets, many giving way 1s. per qr., and in a few cases the reduction was 1s. to 2s.; but no decline this week was noted in Liverpool. Leith and Edinburgh gave way 19.; but On the fourth Monday the supply of English wheat was scanty, but the foreign arrivals were heavy, Russian supplies being one-half, India and America figuring next, with Australia and the Baltic in fair quantities. The show of fresh samples from Essex and Kent was short, and but little improved in condition; still even the best samples with difficulty made the previous rates, while lower qualities were neglected. There being no pressure to sell foreign, with fine frosty weather, red sorts were rather firmer, but to sell white some concession was necessary. The floating trade was also inactive. The arrivals into London for four weeks were 25,319 qrs. English and 276,650 qrs. foreign, against 21,892 qrs. English and 102,479 qrs. foreign for the same time last year. The exports in the month were only 547 qrs. The imports into the kingdom for the four weeks ending 13th Nov. were 4,814,860 cwts wheat and 472,054 cwts. flour, against 3,721,031 cwts. wheat and 492,368 cwts. flour last year. The London averages commenced at 49s. 4d., and closed at 473. 6d. The general averages opened at 46s. 8d., and closed at 47s. 8d. The flour trade, in sympathy with wheat, has been exceedingly dull, and prices have receded 1s. to 23. for Norfolks made of old wheat, while those made of new have given so little satisfaction that nothing but low prices would sell them: old, with difficulty, have realised 349., but new have been selling at 31s., and even less. The foreign imports, too, have rather increased, and the same difference obtains between barrels made of new and old wheat as ruled in the sales: fair extra state of old wheat has brought 25s. to 26s., but new were not worth over 24s., unless something extra. The price of the best flour in Paris has fallen to 38s. 7d., and this has also been the value in Belgium, but our town millers have not altered their rates, which all along have stood at 473. per sack. The imports for four weeks were 81,569 sacks country make, 19,733 sacks, 34.863 barrels foreign, against 84,624 sacks country, 5,669 sacks, 18,603 barrels foreign in 1874. The receipts of British barley have been gradually increasing, but the quality of the new has not been so fine as expected. Even the best sorts of English and Scotch have yielded in value 1s. to 2s., but secondary and inferior have been still more depressed, and quite irregular as to prices. The French, like our own crop, has very much lost colour; but grinding sorts, not being over abundant, and really cheaper than oats, have not given way, and still readily bring 263. to 27s. per qr. Without better quality in malting descriptions, prices may yet rather decline; but there seems little reason for any reduction in good foreign grinding. The imports into London for four weeks were 22,962 qrs. British, 49,005 qrs. foreign, against 16,458 qrs. British, 41,667 qrs. foreign for the same period in 1874. The malt trade has been dull through the month, and given way in price 1s. to 2s. per qr., more especially for secondary sorts, the new samples being serviceable though not handsome. There are yet fatr stocks of old on hand, and this has made holders more anxious to sell. Of Indian corn the arrivals have been good, but the previous reduction in values has prevented a further fall, and the market closed with much the same rates as those with which the month commenced-say 32s. for flat American, and 33s. for round. The imports in four weeks were 47,805 qrs., against 3,891 qrs. last year. The oat trade has continued to fluctuate according to the arrivals: the first two markets gained 1s., sixpence of which was lost on the third market and recovered on the fourth, making a gain for the month of 1s. per qr. The Russian supplies have nearly ceased, and but little more old corn can now be expected, as the ports of Archangel and Petersburg are closed; but from Sweden there have recently been good supplies of new, which have met a ready sale at full rates-say 24s. to 26s. 6d., old Russian being worth 23s. to 27s. We think this grain will keep its price all through the winter, excepting in occasional gluts. The arrivals in London were 4,845 qrs. English, 376 qrs. Scotch, 640 qrs. Irish, 150,145 qrs. foreign, against 2,907 qrs. English, 277 qrs. Scotch, 222 qrs. Irish, 159,849 qrs. foreign in 1874. foreign plentiful. Yet the badness of the crop this year and a continual country demand have kept up values, and no change can be noted from our last report. Ezyptian are still worth 42s., and Mazagans and Italian 453. The imports into London for four weeks were 3,424 qrs. English, 19,270 qrs. foreign, against 3,427 qrs. English, 8,713 qrs. foreign in 1874. The English supply of peas has been better than that of beans, though these are also reported a bad crop; the foreign arrivals, mostly white, have been moderate. Prices have been steady through the month; duns worth 43s. to 44s., and white foreign old 43s. The imports into London for four weeks were 4,292 qrs. English, 8,253 qra. foreign, against 3,442 qrs. English, 14,900 qrs. foreign in 1874. Of linseed the supplies have been good, and chiefly from India, and values have improved 1s. to 2s. Arrivals this month 47,689 qrs., against 10,523 qrs. last Of English beans the supply has been moberate, of Printed by HAZELL, WATSON, & VINEY, 265, Strand, London. |