The Express.
London, England, 1853-11-04 00:00:00

THE CORN TRADE.

Btratrflonenr, Nov. 3.—We have scarcely bad two fine
days together during the whole of the past month, and the
quantity of rein which fell was greater than we remember
in any previous October (usually the finest month in the
year) ; this has proved very prejsclidal to the late harvest,
and to the wheat sowing. These untoward circumstances,
combined with the warlike aspect of affairs, have caused a
continued excitement in the trade, and a rise on wheat,
both English and foreign, of Ss. to 10e. per quarter. The
deficiency of the last crop in this country and France is
fully confirmed, and should the latter again enter much into
competition with Great Britain in the shipping ports of
Europe and America, a further advance might take place;
but as our prices are now considerably higher than in
Fiance, we may calculate on receiving the bulk of the
supplies from the East and the United States for some time
to come. The principal obstacle still is scarcity of shipping,
but freights which had reached 275. 6d. in Odessa were by
the last accounts declining, and the reports of the late
rise here had caused no corresponding advance there;
and in the Danube prices of wheat and Indian corn
are as low as for some years past. It has been ar-
gaud that, if the weather permit, as a much
greater breadth of land will be planted will wheat than
last year, this increased absorption of the new crop will
render us more dependent on foreign supply ; this will,
however, be modified by a less quantity per acre being used
for seed, in consequence of its high price. We believe twice
as many acres have already been planted as at this time last
year. There is now, under ordinary circumstances, only
nine mouths' consumption to provide for until next harvest,
and although stocks are to a trifling extent reduced, we
are of opinion they never were greater in any previous
November of old English and foreign wheat and flour, and
that s much less proportion of now has gone into consump-
tion than usual at this period. The American markets by
last account• were declining, notwithstanding there was a
margin of 151. per quarter for profit between their prices
and the quotations they had last received from London.
We may therefore look for large supplies from thence up to
the end of the year, also from the Baltic; subsequently
we calculate on continued and extensive arrivals
of Black Sea and Danube wheats. The neglect of
our government in not collecting any statistics of the
growth and consumption of wheat in this country
hos long been a subject of regret to practical men, more
particularly as the quantity of flour consumed might be ac-
curately obtained with little difficulty, as well as the
number of acres of land under wheat, both at a trifling ex-
pense ; and in such a season as this the information would
be of great service in alloying exaggerated fears of scarcity.
At present, those who have paid most attention to the sub-
ject have so little data upon which to estimate either the
growth or consumption, that they differ in their calculations
several millions of quarters per annum. In expressing an
opinion that our present Prices will bring an adequate
supply, we do so mainly on the ground that the high rate
of freights sufficiently indicates the great demand for vessels,
intended chiefly to be loaded with bread stuffs, and the fact
that even at these rates there is still a good margin left fur
profit in shipping from the principal exporting countries.
The good crops of wheat and potatoes in Ireland and Scot-
land, and the supplies of the latter which we may expect
to receive from thence, will not be without their effect ; the
more when we consider that the import of foreign bread
stuffs into Ireland this season is likely not to
reach one.half the amount of any year aince 1816. We
therefore think that prices have touched nearly, if not
quits, thelhigheet point before next harvest, nubile the pro-

?HS ZLLIPTIC CULLAR.
AT
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