Hide Articles List

10 articles on this Page



REVIEW OF THE BRITISH CORN TRADE. The fickleness of April is not a seasonable characteristic in August weatlier and the life of the farmer just now is scarcely enviable. So many changes have occurred since August came in that a fine day has been a tolerably certain indication of rain to follow, while those who have gone to bed in lonely farm- houses with the wind driving the rain against the panes and the landscape all round a picture of desolation, have awoke to find the fields all bathed in sunshine beneath a perfect azure sky. To what extent the cereal crops have already been secured is doubtful. South of the Thames a large area has been carried, and a railway journey from Dorsetshire to London on Saturday disclosed more stubbles on either side the line than fields of standing corn. The great wheat-growing districts of the eastern, north-eastern, and midland counties have not cleared the grain from many fields. There is a good deal of irregularity even among the better fields, while the quan- tity of laid and, latterly, of twisted corn is very serious, and mildew has made a very general appearance, though seldom to a really alarming extent. The good promise of a short while since is now reduced, and barley in especial is the subject of seriously reduced expectations. The quantity of good malting availabtefor the new season is expected to be quite small. The attitude of the country markets, whereat English wheat is the leading staple of trade, has been full of hesitation, and trade has been as fickle as the weather. Very little new wheat has been shown even at the Kentish, Sussex, and Surrey markets. The extremely showery weather has discouraged threshing, besides which the apathy of buyers is such as to suggest the inexpediency of hurrying new corn forward while the reserves of the old crop hold out as well as they do at present. Up to August 3rd 7,227,987 qrs. of old wheat are estimated as having been sold, and the sale at the 187 statue markets for the week ended August 10th, 1889, were 41,524 qrs., the sales in the same week in preceding years being: 1888, 16,789 qrs; 1887, 21,632 qrs.; 1886, 44,120 qrs.; 1885, 37,601 qrs.; 1884, 27,528 qis. 1883, 41,799 qrs; and 1882, 8,999 qrs. Thus two years only out of seven have exceeded present August deliveries, while last week's sales were larger than in the corresponding week of 1888 and 1887 combined. The average price of the 41,524 qrs. was 30s lid per qr. against 34s 6d obtained on the 16,789 qrs. sold last year. The price of 30s. lid., although low, is Is. 8d. advance on the July average, and shows that the reserves of old corn have appreciated in value in the rural districts. London, curiously enough, appears to get the vetiest dregs of the last year's yield. The London average on July 23rd was 30s lid for English wheat, but between that date and the 30th 1,312 qrs were sold for 29s 4d while during the first week of August there were 72 qrs. sold at 27s. lid. per qr. A small show of new wheat at Mark Lanfr has ranged from 34s to 38s pet- quarter, but with only a slow sale owing to dampness and want of condition. The flour trade has been firm, but not active. July imports of flour were 1,276,275 cwt., against 1,385,058 cwt. last year, and 1,219,470 cwt. in 1887. The demand for foreign flour ap- pears, therefore, to have reached a position of great steadiness. There is no retrogression, but equally there is no advance and as popu lation is steadily increasing, the nett result should be to encourage English millers. The trade in foreign wheat since the Bank Holiday has shown a want of energy which has been embarrassing to weak holders. Value shows no real tendency to retrogade, there having since the first of the month been no decline except in a few instances of forced sales. The holders of new American ask 32s 6d to 33s in the wholesale market, while Californian is at 36s to 37s per qr. Russian wheat shipments have exceeded the expecta- tion of the trade, but holders of grain in stock in England will not concede a penny decline owing to the news of the 1889 crop continuing to point to a much under average out-turn. Indian wheat shipments are only 60 per cent of what is expected during the summer months of an ordinary season. The London Corn Trade Association publish for the settlement of differences the following arbitration prices of Indian wheat. No 1 Club Calcutta, 33s 9d; No. 2, 32s; soft red, 31s 3d; hard red, 30s; No. 1 Club Bombay, 34s 9d; white Delhi, 33s. 9d. per qr. The imports into London for the week ended August 9th included 76,691 qrs. of foreign wheat (3,079 Bombay, 2,475 Ibrail, 2,457 Calcutta, 3,320 New Zealand, 660 Trieste, and the rest from the Black Sea), which with 2,780 qrs. English and flour equal to 124,131 qrs. This is the largest importation into London since May 3rd. The imports of breadstuffs into London for the week ending August 2nd were 84,779 qrs. The spring corn trade during the past week has been firm and with diminished hopes of the barley yield both at home and abroad, the price of that cereal shows a fractional improve- ment. Oats have been steady in price and demand. The London average shows 5d. improvement. Maize has been rather dearer at such leading markets as Glasgow, Hull, Bristol, and Plymouth, but London and Liver- pool have not altered former quotations. Beans and peas are not the subject of any alteration worth noting. Rapeseed is not so good a market as before the August holiday, and linseed is quiet. Seed oils continue very firm in price. The trade in arrived cargoes has been firm for wheat and maize, and 3d. dearer for barley. On oats a slight reduction is allowed, owing to a freer sale of the Russian holders, whose firm attitude has hitherto been the great support of the English market for this cereal. Beans are 3d. dearer on the week. The arrivals of the week include two cargoes of wheat, one of maize, three of beans, and one of linseed. The trade in cargoes on passage and for shipment has been marked by decided firm- ness for all sorts of wheat and maize. New Russian bailey for September shipment is offered at 16s. 9d. per qr., with sales at 16s. 6d. This is 6d. improvement from July. Russia is also offering new oats at 14s. per qr. The following statement shows the importa- tion of breadstuffs into the United Kingdom for the week ended August 3rd, 1889, as compared with that of 0 the corresponding weeks tn the four preceding years :— Flour Total Wheat. as Wheat, as Wheat. Qrs. Qrs. Qrs. Week ended (480 lb.) (480 lb.) (480 lb.) Aug 3 1889 260,240 76,090 336,330 Au! 4 1888 190,888 69,286 260,150 Aug 6 1887 333,699 62,067 395,766 Aug. 1,1886 290,224 154,923 445,147 Aug. 8, 1885 292.455 49,557 342,012 The quantity of wheat and of flour reckon- ed as wheat which is now on passage to the United Kingdom gives us a total of 1,948,500 qrs. of breadstuffs, which is 58,500 qts. more than a week ago, but 199,500 qrs. less than was coming this time last year. The wheat now afloat includes 428,500 qrs., Russian, 73 000 qrs. American, 822,000 qrs. Californian, 388,000 qrs. Indian, 20,000 qrs. Chilian, and 52,000 qrs. Australasian 719,500 qrs. are for orders, and 813,000 qrs. for direct ports within the United Kingdom. The quantities of grain afloat with a destin- ation within the United Kingdom reported up to Thursday last were :—Wheat, 1,738,500 qrs.; barley, 188,000 qi-s. and beans, 16,500 qm as compared with 1,840.000 qrs. of wheat, 167,000 qrs. of flour, 345,000 qrs. of maize, 119,500 qrs. of barley, and 25,000 qrs. of beans in the corresponding weok of last year.









-..-......-'-...-RAILWAY TIME…