The Express.
London, England, 1851-07-01 00:00:00

REVIEW OF THE BRITISH CORN TRADE,
DURING THE PAST WEEK.

(Prom tbs Mark-tam Ilapren.)

The hot, forcing weather, experienced since our
last has proved very favourable for Wheat, and the reports
from all parts of the kingdom agree in describing the crop
es promising in appearance. This has naturally had some
influence on the tone of the trade, and the activity which
prevailed has been followed by a calm. The opinion we
expressed last week, in regard to the probable future range
of prices, SOMA therefore likely to prove correct. Hitherto
holden have not given way ; but the disposition to buy has
already demurred, and it is tolerably certain that with
moderately auspicious weather during July, a portion of the
recently established advance would again be lest. The fact
is, that notwithstanding an enormously large consumption,
the supplies which the continent of Europe can furnish are
greater than the legitimate demand can take off; and, in
the absence of circumstances calculated to encourage specu-
lation, prices must be kept down in this country by the
conataat influx of foreign produce.
While the result of our own harvest remains uncertain,
especially at this critical period of the year, fluctuations
may be expected to occur ; but, independent of the changes
which may be produced by the influence of the weather,
there is nothing, in our opinion, in the position of affairs to
warrant the belief that we shall have a higher range of quo-
tations than that which has prevailed since the repeal of the
corn-laws.
Thelarrivah from abroad, which were short in the early
part of the month, have within the last week or two again
manned ; and though the deliveries from the growers have
bars wimizrate, the supplies have proved more than suf-
ficient to meet the demand at most of the leading provincial
markets.
The weather having been highly favourable for hay-
making, all hands have been busily engaged in the fields in
else anathern and western parts of the kingdom, which may,
Millahave caused the farmers' supplies to be somewhat
ithan might otherwise have been the case. In the vici-
nity of the metropolis a large proportion of the hay has been
carried in excellent order; the bulk is variously spoken of.
On the whole, we are inclined to estimate the yield at less
than the produce of good average seasons.
Spring Corn and Pulse would be much benefited by rain;
and the prospects for the Lent-sown crops are not so pro-
mising as could be desired.
The advice. from some of the other large consuming
towns are also dull, with a downward tendency; and if
nothing fresh transpires to encourage investments on specu-
lation, a small reaction in prices appears! probable.
From Scotland we learn that the cold wet weather expe-
rienced in the early part of the month hail been succeeded
by a higher range of temperature, which bad wrought an
improvement in the aspect of the grain crops. Business in
Wheat was, nevertheless, firm at Edinburgh and Glasgow
on Wednesday, and very lull prices were iusistsd on.
The reports from Ireland, respecting the prospects for
the future, are satisfactory, and though there can be
no doubt that the stocks of all kinds of corn are reduced
into a very narrow compass in the sister isle, the favour-
able character of the ,weather, together with the arrival of
rather large supplies of Wheat and ludian Corn from the
Black Sea, etc., had caused a considerable degree of languor
at some of the principal markets.
The arrivals of Wheat coastwise into the port of London
have been very small, only 2,748 qrs. having been reported up
to this (Saturday) evening. Meanwhile but little has been
brought forward at Mark-lane by land-carriage samples
from too neighbouring countries, notwithstausling which
the trade has been heavy.
Forego Wheat has come to hand rather freely, upwards
of 30,384 qrs. having been received. Part of this supply
and a considerable proportion of what was received last
week having gone direct into the hands of the millers,
they have had little need to appear at market as buyers,
and the attendance of country purchasers having been small,
the transactions have nut been important. Holders of
foreign wheat in granary have generally remained firm;
nor have really fresh qualities been offered at less money
from on board, but to have made sales of secondary or out-
of-conditioned parcels, on Friday, it would have been
necessary to have accepted lower terms than those current
in the commencement of the week.
The disposition to make speculative investments has en-
tirely subsided ; and the inquiry for floating cargoes, which
was so active last week, has been followed by a complete
calm in this branch of business.
The arrivals oft' the coast have been comparatively small
for some days past, but what has been otiCrZal has failed to
find buyers.
The nominal top price for town-manufactured Flour
has undergone no change, and good flesh country marks
have been held with much tie-mut:as. It appears tolerably
clear that the arrivals of Flour from France will, for a time,
be moderate; but up to the present time no falling-off
has tekeu place, 8,634 sack,* having been reported during
the we: k.
We have had no arrivals of English Barley : the supplies
of this grain from abroad have, however, proved amply
sufficient to satisfy the demand, which has been alined
wholly confined to grinding hods. 'the prevailing
sion appears to be, that all that may yet come t=
previous to harvest will he required, as stacks of home-
growth arc evidently exhausted.
Malt has not excited much attention; sellers have, how-
ever, asked full terms, which needy buyers have. bees
obliged to pay.
The arrivals of Oats from our own coast have amounted
to only 114 qrs.: from Scotland the receipts have alas
been small, vie., 1,163 qrs., and from Ireland only 2,386
qrs. have come to hand ; we have, therefore, had to depend
principally on the supplies from abroad, and a considerable
proportiou of the 60,000 qrs. which have arrived at this
port within the last fortnight has already been cleared off
the market.
Unless the receipts of foreign Oats continue on rather
a liberal scale, prices are not likely to recede further, as the
consumption of the metropolis is just now very large.
Beans have moved off somewhat slowly, and the extreme
rates of last week were scarcely obtainable on Friday.
Peas, on the other band, were in rather improved request,
the very hot weather lately experienced being considered
unfavourable for the podding.
The Irish demand for Indian Corn has slackened, but
most of the arrivals off the coast having been placed, holders
of the little not yet disposed of have manifested no anxiety
to press sales, and have insisted on former terms.
THE FOREIGN CORN TRADE.

The reports from the Baltic arc again of a lively
character this week ; but it must be borne in mind that the
accounts from hence had, up to that time, reported ad-
vancing prices in all our principal markets. The check to
the upward movement which has since occurred here had
not yet become known on the other side. Our Dantzic let-
ters are of the 21st inst.: the total sales during the week
had been rather extensive, and the extreme rates previously
current had been maintained. Shipments to some extent
were being made for British ports, and we are inclined to
think that we shall not be long without supplies from
thence. Stettin letters of the 20th inst. report wheat Is.
to ls. Gd. per qr. higher than the week before, as much
as 41s. to 41s. 6d. having been paid for the finer sorts
of red, weighing 601b3. to 621b5., and 395. to 395. 6d. per
qr. free on board fur 6011)... to 611bs. red Stettin. Spring
corn had been held at extravagantly high prices; Barley at
225. up to 235. 6d., and oats, weighing only 341bs. to 361bs.
`per bushel, at 21s. to 225. Gd. per qr. Freight for wheat
1 was 2s. 3d. to 2.. 61 for London, 2.. to 2s. 3d. for East
Coast. The accounts front Rostock inform us that holders
of wheat had further raised their pretensions, many having
I become unwilling to sell good heavy qualities below 425. to
1435. per qr. free on board. The advices from the nearer
gparti'v ngarecot°ll:trutel Ilthpew same et
rds. Afetctii thtutergndeonncy.;ufepsrjacesy.
business, though quiet, was very firm, and 611bs. Waltren
was held at equal to 445. 3d. perqr. free on board. The trans-
. actions from outports had not been very extensive, but full
! terms bad been asked. Barley was in request, and good quali-
ties to be shipped from Danish Islands, weighing 53 to .54 lbs.
per bushel, had realized equal to 233. Gd. per qr. free on
board. The demand fur oats had rather slackened, still
fair feed had not been offered below 18s. 3d. to 19s. 3d.