The Express.
London, England, 1852-07-27 00:00:00

REVIEW OF TILE CORR TRADE.

Noo the Mark l.an• Eapress.l
marrism

Another week of extraordinary fine weather has
tended to increase the depression in the grain trade, in poi-
portion as it has heightened the expectations of • favourable
result of the ensuing harvest. That weenier estimates
should be entertained respecting the elope is perfectly na-
tural, the season having thus far bees as auspicious ascould
possibly be desired ; the report' from the agrioaltureldis-
tricts are, almost without exception, of a satisfactory as-
, rater; scarcely a complaint is heard from any quarter, and
should the month of August prove moderately propitions,
the present promise of more than usual abundance would be
nearly certain to be fully realised. The great heat which
has been experienced during the last three weeks has
brought the crops rapidly forward, without ninth* press-
Lure ripeness, and cutting is likely to be commenced • week
or ten days sooner than appeared at one time probable; in
• some forward districts • commencement hes already been
mule, a few early patches of autumn-sown oats, of rye, and
peas, having been eat ; and, according to the present aspect
of affairs, the probability is that reaping will be pretty ge-
neral in the southern parts of the kingdom the first week in
the ensuing munth.
With harvest so near at hand, there is en evident dispo-
sition at the part of thew still holding stocks to realise,
whilst merchants and millers are by no means inclined to
purchase more of any article than is needed for present use.
The prevailing opinion is, that in ease the crops should •
yield as well as there is reason to expect, the value of all
• kinds of earn would be lower later in the year. Under •
these circumstances the transactions in grain have for some
time past been very much restricted, and the general ten-
dency of prices hes been towards a decline. The fall would
• probably have been more decided had not farmers been
busily engaged throughout the month with hay-making
their time has been further occupied in electioneering busi-
ness, and the deliveries have consequently been so small as
Ito prevent any great pressure being felt.
The value of whs at has not varied materially since our
last, but •he difficulty in effecting sales has certainly in-
creased. It is unnecessary to particularise by referring
separately to what has taken place at the different markets.
At those places where the supply has exceeded the quantity
required for actual consumptiou, sellers hive had to make
some concession ; but this has not been the cue generally,
and quotations have therefore remained much the same as
before. Neither sellers nor buyers are inclined to act freely,
the former expecting to do better after harvest, and the
latter being unwilling to give way materially.
The arrivals of corn from the near continental ports have
been only moderate, but rather a large supply of wheat,
Indian corn, he., is reported off the meet from the Black
Sea and Mediterranean, which is expected to be followed
up by further receipts from. the same quarter. America has
supplied us with • fair quantity of flour, and we are likely
to have regular weekly arrivals to some extent from thence;
there is consequently no prospect of any scarcity of bread-
stuff. being felt, even if the harvest in this country should
be delayed somewhat beyond the usual period.
Our letters from Scotland do not speak quite so favour-
ably this week of the weather as before. A considerable
quantity of rain had, it appears, fallen • and as the showers
had been very heavy, the corn crops had been a good deal
beaten down. This tended to give some degree of confi-
dence to holders of wheat at Edinburgh on Wednesday,
and the sales made ware on similar terms to those current
on that day se'nnight. At Glasgow prices of that article
and flour were also about the same as before; but barley
and oats were easier to buy at both plates.
In Ireland the weather appears also to have been un-
settled, but the prevailing impression there was that no
mischief had results.. from the showers, which had not been
more than counterbalanced by the good that had been done
thereby. Less is said about the potato disease than earlier
in the month, and though the supplies of grain had not
been by any means liberal, previous prima had been main.
Mined with difficulty at the principal markets.
The transactions at Mark-lane have been on a strictly
retail scale throughout the week ; indeed, so little has been
done in any article as to render quotations in a great mea-
sure notriaal.
The arrivals of wheat coastwise into London have been
perfectly insignificant, only 1,968 qrs. having been reported
up to this (Saturday) evening ; meanwhile, scarcely &sample
has been exhibited at Mark-lane by land carriage from the
neighbouring counties, and there has consequently been no
pressure on the market. The few small lots offered from
Essex and Kent on Wednesday were placed at about previ-
ous terms, and purchase' could not be made at lower prices
on Friday than in the beginning of the week. Our millers
do not in general hold any stocks of importance, and unless
supplies increase prices can hardly give way much for good
fresh qualities of English wheat. The receipts from abroad
have not been large, but the supply has proved amply suffi-
cient to satisfy the demand. There has been little or no
country inquiry, and most of the local millers have still
some quantity of foreign wheat on head. Importers have
not in general manifested any particular anxiety to realise ;
it would have been quite impossible to have sell to any ex-
tent without giving way, and this merchants are evidently
not as yet prepared to do; hence the operations have been
on a strictly retail scale since Monday, at about the rates
then current.
A considerable arrival of wheat has taken place this week
off the coast from eastern ports, and there are still • larp
number of cargoes on passage from the Black Sea, &c. The
business done in floating cargoes has been unimportant for
some days past, the inclination to make investments having •
quite subsided. It has, under these circumstances, become
difficult to say what rates would be readily obtainable. The
last sales were at 31s. for red Polish Odeon, and 355. 6d.
per qr. for Galata. There have been • few offers of wheat
free OR Ward at Baltic ports—without, however, leading to
sales.
The inquiry for dour has been slow throughout the
week; and though the nominal top quotations Jar town
made has undergone no change, the commoner sorts,
whether of home or foreign manufactures have been easier
to boy. In addition to fair arrivals of Soar coastwise and
per rail, we have received 1,075 sacks from the continent,
and 21.957 barrels from America, dories the week.
English barley has ceased to eons forward; having,
however, received 8,266 ayes. of this grain from abroad, no
scarcity of grinding qualities has bees experienced. The
inquiry was net by any 'amuse active, either on Wednesday
or Friday; but the retail sales offsets& showed no change
in prim, the rates realised being similar to those previously
current. _ . . .

Malt has excited little &Citation : factors have, however,
insistel on former tome. . . .

----
Oats of Immo grew* appear to bs nearly exhausted, and I
the receipts emstwise have consisted of enly 585 qrs. this
week t fins band 4,077 qrs.' and from abroad 19,179
qrs. ban come to Mad, making together 24,841
qrs. TM bode Me, nevertheless, been exosedin;ly
dull, the dealers having conducted their operations
very cautioaely. Among the foreign arrivals we have
bed s mire or two from Archangel, the lint thie seams.
The qoality is fine, but *ellen have not been able to obtain
over 192. per qr. Other sorts of eats have moved off is
small quantities to needy mammas, at about former
terms. _ . .

Beans have been megisisted, and might, in some cases,
Dave been bought at rather lees meaty on Friday than in
the beginning of the week.
The inquiry for peas has bees checked by the expectation
of the early appearance of new at market, and prices have
become very unsettled.
Nothing of interest has transpired is Indian corn afloat.
The demand for this article on bleb eseseat has certainly
slackened of late.