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THE FARMERS* CIRCLE.

THE MONTGOMERYSHIRE DAIRY…

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REVIEW OF THE CORN TRADE.

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REVIEW OF THE CORN TRADE. The last three days of SAptember were mild and showery, just what farmers re- quired. Similar weather throughout October would put the land in an excellent state for autumn sowings but at present it is too dry, and we do not expect that the too dry, and we do not expect that the actual sowing of wheat for 1894 will be accomplished for three or four weeks from n-iw, even in the most forward districts. November, in fact, will be as usual the chief sowing month here, though in France, where September drought was less marked than in Great Britain, the farmer is already so busy sowing that market attendance and deliveries are notably decreased. Ihe threshings of now English wheat proceed at a fair rate, and the good quality of samples is making itself felt. New wheat is quite lie dearer than old, besides com- manding the readier sale. The average price for English wheat for September was 36s.. and thus compares with preceding seasons:— 1893. 1892. 1891. s. d. ii. d. a. d. January. 26 3 35 1 32 7 February 25 10 32 5 32 6 March 25 0 32 10 33 11 April 25 4 31 2 38 4 May 26 6 31 3 40 5 June 27 1 30 1 39 9 July 26 7 29 3 38 6 August 26 3 29 7 40 1 September 26 0 28 11 38 5 October 28 6 35 0 November 27 10 37 11 December 26 9 37 6 Average. 30 4 37 1 Value in September, 1892, fell 8d. per quarter, and in September, 1891, 2s. 7d. per quarter, so that the 3d. per quarter fall this September is not so bad a sign as by itself might be taken to be the case. We expect October to show some rally, and but for the extraordinary accumulation of foreign whea and flour in granary, we should anticipate a 30s. quotation by Christmas. What this accumulation amounts to is not clearly known, for the blessings of local self-government include a pleasing variety >f mourhly returns, quarterly returns, and no returns at all. Now, the well-known organ of the millers of Great Britain pre- w/es an impartiality which is in ac- cordance with the best tradition of English journalism. At the same time it is not to be supposed that it has that interest in higher prices for English wheat which the English farmer has, aud its, therefore, incumbent on the latter to demand for the Board of Agri- culture, formed expressly in his interest, powers to ascertain from time to time what tores of foreign grain are in the country. A fact upon which we have particular information, the number of cargoes on pass- age t; the Unite Kingdom, is by no means reassuring, as wi 1 be seen from the figures given in their usual position a little further on in this article. Stocks in hand have risen, aud yet there are 465,000 quarters on passage now than at the beginning of the year. Here is a clear step in the wrong direction, and we have once more to indicate this excessive buying forward at the begin- iog of a new cereal campaign as the plague i spot in modern trade. Our total require- ments of imports for 1893-4 may be put at about twenty millions, and, reckoning due supplies on passage at any givpn moment as one-twelth of total needs, the total should be a little under 1,700,000 quarters The pres- ent quantity is at the rate of 33,632,000 quarters yearly imports, and is calculated to completely discourage spot holders. The course of the big port markets has been one of littlo change since our last review; all improving tendencies are arrested by the imprudent speculation in futures.

WOOL.

MARKETS.-

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THE MONTGOMERYSHIRE DAIRY…