The Express.
London, England, 1851-11-04 00:00:00

REVIEW OF THE CORN TRADE DURDIG

TUE PAST WEEK.

(Pc.= %le Mork Lem /apron.)
_ BRITISH.

The weather having been very auspicious through-
out the month of October, all descriptions of outdoor
work have progressed rapidly, and in the more forward
parts of the kingdom the sowing of Wheat has been nearly
completed; the land has worked admirably, and the seed
has been well got in. The breadth sown is said to be less
than last season, and, considering the very low prices of
grain, there is reason to believe that where the land is sak-
i able the cultivation of flax will be attempted.
The pecuniary pressure under which farmers are labour-
ing, in consequence of the whole sale depreciation of their
property, has taken from them the power of holding
much stock ; and though the prices which have for soma
time past been current for Wheat have been unremuneo
tive, the growers have been compelled to thrash out freely.
During the height of seed time there was a temporary fa..l.
ing off in the supplies, but this week the deliveries hays
again increased, and there can be no doubt that the Whewt
of this year's growth is being forced into consumption more
rapidly than is usually the ease so noun after harvest.
The hoc quality of the now produce, and the excellent
condition in which the great bulk of the crops was har-
vested, allow of its use with a comparatively smaller
mixture of old than in ordinary years; which circum-
stance, and the relatively high value of foreign, have caused
the millers to employ the former with as small a mixture of
the latter as possible. Great inroads have therefore been
already modems the new crop, but at present no one ap-
pears to regard this, and the temptation of low prior and
hue ' ',•barto to Waco —s.-
lees

eva. boo.ti
to ~ttairb

diets %.e. The greater pert of the advance established
early in October has again been lost within the last fort-
' night, and wheat is now nearly a 4 cheap as it has been at
any period since harvest. At some of the shipping ports as
the east coast, fair qualities of red have been sold at 32a. to
334. per qr., and good runs of red are not on the average
bringing over 31s. to 34.. per qr. in uoy of the farmers' mar-
ket,. In comparing these quotations with those current am
the continent of Europe, it will be seen that wheat is now
cheaper in this country than at those ports from which
we are in the habit of drawing supplies; and it is there-
fore certain that, for the present ut least, no arrivals of
importance can well take place from the Baltic, Itamburgh,
or the l)utch or Belgian ports. This would, under ordinary
circumstances, inspire confidence ; but 'the working of free
trade is not as yet sufficiently understood, and buyers ap-
pear to be satisfied that supplies will reach us from one
quarter or the other' and that the sptembf purchasing only
from hand to mouth will, under the new order of things, be
found to answer the best.

The reports from most of the leading provincial markets
are dull, and though nu material alteration has taken place
in prices, the tendency hay been rather downwards.
At Liverpool, on Tuesday, the operations were on a retail
scale ; wheat was quoted Id. per 7011 re, and American flour
3d. to Gd. per brl. lower than on that day' se'nnight. Spring
corn was generally held firmly, but Indian corn might
easily have been bought at previous prices hail purchasers
come forward. Later in the week holders of wheat showed
rather less anxiety to realise, but no improvement could be
established on friilay in prices of either wheat or flour,
though the arrivals of bath articles from abroad had been
trifling since the pricedingmarket day.
The reports from the large consuming towns in York-
shire describe the demand for wheat as languid; sellers
seem, however, to hare refund to make any further conces-
sion, and the h:
hest qualities were not lower either at Leeds
or Hull, on Tuesday, thin on that day week.
The advices from Bristol, Birmingham, and other leading
markets in that neighbourhood, are of a similar character ;
and we are induced to think that the downward movement
in prices will not go further.
The advice. from Scotland respecting potatoes have again
become unfavourable ; when dug, the crop appeared less
affected by disease than from the previous aspect of the
haulm was feared would have been the ease. Uneasiness was
therefore in a great measure allayed, and it was hoped that
the loss would prove comparatively small; it has, however,
been since discovered, that atter pitting decay has set in,
which threatens to destroy a large proportion of the entire
crop. We have lately received similar accounts from some
parts of Ireland, and without being disposed to place im-
plicit reliance on all that is said on this subject, we arc ne-
vertht less inclined to believe that the loss of the Potato will,
later in the year, make itself felt, and produce some influ-
ence on the value of those articles of food used as substitutes.

The Scotch and Irish markets meanwhile remain quiet for
wheat and Indian corn, with prices rather tending dos n war&
than otherwise. Barley anti Oats, on the other hand, had,
it seems, been in good request, and both these kinds of
grain are relatively higher than Wheat in all parts of the
kingdom.
The arrivals of Wheat coastwise into the port of London
have been moderate, only 3,01 a qrs. having been reported up
to this (Saturday) evening. A considerable proportion of this
supply is from the east coast, and, having been sold previous
to arrival, has gone direct into the hands of thu millers.
The quantity of Wheat exhibited at Mark-lane has been
altogether small since Monday, and though the demand has
been slow, lower prices have not been accepted. On Wed-
nesday the EWA, Kent, and Suffolk stands were nearly
bare, and so trifling were the operations as to render quota-
tions little better thin UO11141(11. Ou Friday there were •
few parcels fresh up from E.aex, which, being in good con-
dition, were placed without much difficulty at former terms,
and there was, on the whole, rather more disposition to buy
at the close than in the beginning of the week.
The market has been tmelerately supplied with foreign
wheat, only 11,319 qrs. having come to hand during the
last eight days. l'int of this arrival is from the Baltic, but
the greater proportion is from Egypt. The local inquiry
fur old wheat has not at any period of the week been active,
and our millers appear to have still sufficient on hand to
satisfy their immediate wants; meanwhile we have had little
or no country demand, and the transactions have conse-
quently been on quite a retail scale. llolders have neverthe-
less remained very firm, and for fine qualities in granary full
terms have been asked. 'lwo or three lots of wheat have
lately been received from Rostock, of fine quality, for which
^ high rates have been asked, and we believe as much as 4-Is.
per qr. has in one instance beta offered and refused. The
export demand for l'olish Odessa, and similar sorts of
wheat, has slackened, and few 'elm of floating cargoes
have taken place. In the early part of the week 325. Gil.
per qr., cost, freight, and insurance, was paid for a cargo
of fine Pulieh Odessa. This purchase was, we believe, on
llrish account. The arrivals from the eastward at Falmouth
: and Queenstown have not been particularly large this week,
land many of the cargoes having been sold before coming to
Ihand, there has been no particular pressure.
A steady retail business has been done in English Flour
since our last, and quotations have uudergone no change.
Importers of foreign have also demanded former terms, and
though the inquiry has not been by any means active, tine
qualities have realised quite as muck mousy as before. The
arrivals from abroad Lave consisted of 1,082 sacks from
I France and 8,16 d barrels from America.
.... .. . . .

The supplies of English malting Barley have scarcely been
sufficient to satisfy the demand, and the tendency of prices
have been rather upward.. The few lots of really line
quality which have appeared have been readily placed at
rates tully equal to those previously current; indeed, the
turn was in favour of the seller on Friday. Distilling bar-
ley has not sold so freely, but factors have refrained from
pressing sales, and quotations were much the same at the
close as in the beginning of the week. The arrivals of bar-
ley from abroad have been trilling, and the stocks in gra-
nary here arc gradually diminishing; holders have con-
sequently =initiated more disposition to raise than lower
their pretensions, and good fresh grinding sorts have com-
manded full terms.

The brewen hare bought new malt rather freely, and
its previous value h..s bevu well maintained. In old there
bore been less doing, though uttered at relatively lower
terms.

Thu arrivals of oats coastwise have amounted to only
3,044 qrs., and from Ireland the receipts have not been
much larger, bein.4 only 3,948 qrs. The foreign supply has
also been small, viz., 12,482 qrs., and factors have, therefore.
endeavoured to establish some advance iu prices, which
the dealers have resisted. In this position of affairs the
transactions have not been of much importance, but the
dealers have shown more desire to get into stock, and on
Friday an advance of 6d. per qr. was in partialinstanoes
paid on really fine qualities.
The shortness of oats, and the consequent prospect of
rather higher prices for that article, have caused beans to
be more inquired for, and lull terms were paid for hand-
some hard samples on Friday.
Fees have moved off somewhat tardily, but prices were
not lower at the close than in the commencement of the
week.

--/Toating cargoes of Indian corn have been rather more
freely offered, and at 260. to 2tit. 3d, per qr., cost, freight,
sad insurance, purchases might be made of good (Salida.

FOREIGN.
According to the latest reports from the Baltic, it
appears that holden of wheat had remained very firm ; ;ad
at most of the upper ports a fair amount of business had '
been done. Danunc letters, dated the 27th October state
that a tew small lots of lower Polish wheat bad appeared, of
tolerably good quality, bat weighing only 69 to 80th.. per
bushel, for which equal to 375. 6d. per quarter free oft
board hail been paid. In granaried samples a moderate
extent of business had been dune—full terms, say 40s. 6d.
fur tine high mixed samples, weighing 61 to 39a. for
good high mixed ; and 375. to 335. for mixed to good mixed
60 to Glib'. per bushel. Scarcely anything was being
shipped to Great Britain, and only two small reseals had
been chartered the previous week for Holland.
The latest reports from Konigsberg diatribe the grain
trade as in the same excited state as previously, and the
greatest surprise is felt there at the continued apathy pre-
vailing in our markets. The potato crop in that and the
adjoining province of Lithuania is said to be almost a total
failure, hardly sufficient having been saved sound for seed.
Rye is also said to be exceedingly short, and equal to 345. to
&%. per qr. had been paid for the latter article. Distillers

haring found it difficult to procure potatoes or rye, had
taken the ordinary sorts of red wheat for distillation, and
for such they had had to ply 375. to 384., whilst good mil-
lers' samples had brought *gaol to 38s. up to 42.5. per qr.
free on board. As there was, under these eiteelltStlOCCS•
. . . . .

no disposition to consign to Great Britain, vessels were un-
able to obtain cargoes, and freights were very low, say 6d.
to 9d. per qr. How far the failure of the rye crop may have
been exaggerated, we have no means of testing; but that
there is a great deficiency in that crop and potatoes, in many
parts of Germany and Sweden, cannot be questioned. On
the other hand, there is reason to believe that the produce
of wheat is large over the greater part of the north of
Europe, and we believe that spring corn will also prove to
have given a good return. We question, therefore, even if
the failure of the potato should be as great as represented,
whether the present high value of corn on the continent
will be long maintained.
The accounts front Rostock are of a comparatively quiet
tone. Buyers appear to have acted cautiously there, and
though but little new wheat had come forward, it had been
difficult to exceed 365. per quarter for fine 62Ibs. quality.
Quotations of miring corn were likewise more moderate
there than at Stettin, litiniwsberg, &c., good barley having
been offered at 20s. 6d. to 21.., and white boiling peas at
245. to 255. per quarter free on board. The supplies of new
had not been large ; the samples brought forward had
varied materially in quality, and the weight generally had
nut time up to that of last year's growth. In point of quan-
tity, the crop was generally believed to be about equal to
that of average seasons.
Hamburg advice, of Tuesday last inform us that the spe-
culative demand for grain had subsided, and that a reaction
had taken place in prices. Good qualities' of red wheat,
weirmia6llbs. per bushel, had Wee eared bee es board
rat ports at 365. • amid the MAW Willibt le %skipped
in spelnie front Holstein, Necklet's/1,, or Pomerania,
38'. fl. per qr. free on board. Spring corn had likewise ,
been offered on easier terms than before—say Danish bar-
ley, 53 to 011bs., at 21.. ; oats, of 38Ibs. weight, at 14s. to
14s. 9d. ; and white boiling peas, Danish, at 245. 3d., and
Holstein, at 26.. 3d. per qr. free on board.
The advice. from Holland are not quite so brisk as for
some weeks past. From Rotterdam we learn that the in-
quiry from the Rhenish provinces for wheat and rye had
slackened, and that the extreme rates previously paid were
no longer obtainable. The Polish Odessa received from
hence had sold with difficulty at 310. to 351. per qr.
In the French markets no material change seems to have
taken place. The millers had endeavoured to establish an
advance on flour, which had clucked business, and there
was less doing at Feria on Wednesday than on that day
week. The reports from the provincial markets are of a
similar character, and it is clear that a small rite: in our
markets would lead to renewed shipments of flour from
France to this country.
The most recently received advice. from America inform
us that the supplies of Hour from the interior at the prin-
cipal ports on the seaboard had more than kept pace with
the demand, hut that no further decline had been submitted
to. At New York, on the 14th ult., good brands of Western
Canal were worth 31 to 31, anal tine 4d. per brl. Freight to
Liverpool was only .d. to 71d. per brl. for floor, and at 3d.
to 4d. per bushel for grain; whilst for London ls. 6d. to
Is. 9d. per brl. had been paid for flour.