The Sun.
London, England, 1847-09-30 00:00:00

THE CORN TRADE.

The advance which has taken place in the value of
wheat since the commencement of the month has had
the effect of inducing farmers to supply the markets
more freely ; and though the deliveries have not been
particularly large this week, they have proved quite
sufficient for the demand. The millers and merchants,
who have for some time bought rather freely, have
suddenly contracted their operations, owing partly
to the general disinclination to hold stocks, and
partly to the unwillingness to continue their purchases
at the enhanced terms asked by sellers. The trade
has, therefore, lost the buoyancy by which it has re-
cently been Characterised ; and though we are in•
dined to think that prices will not fall to the point
from which they have recently risen, it is more than
probable that a portion of the late advance will again
he lost. Any material reduction from present rates
would most likely give a renewed impetus to the in-
quiry, whilst it would be almost sure to cause a decrease
in the supplies from the grow ers, more particularly as
the time has now arrived when they will have to busy
themselves with the preparation of the land for
autumn sowing. In the early part of the week holders
of wheat were generally firm, and at most of the
provincial markets held previous to Thursday, very
cull terms were insisted on. At Liverpool, on Tues-
day, there was, it is true, not much doing, but the
sales made were at rates 3d. per 701bs. above those
current on that day week. American flour was, how-
ever, procurable on rather easier terms, owing to an
immense arrival, upwards of 125,000 barrels having
been received at that port from the United States and
Canada during the week ending the 20th instant.
The flat accounts from Mark-lane of Wednesday, and
a falling off in the country inquiry, imparted a very
languid tone to the trade at Liverpool on Friday; and
to succeed in placing either wheat or flour, less money
had to be taken. The decline on wheat amounted to
3d. to 4d. per 701b5., and the best brands of Western
Canal flour were freely offered at 275. 6d. per barrel.
At the leading towns in Yorkshire business had
already become dull. On Tuesday, at Hull, an en-
deavour was made to establish a further advance,
which, however, was firmly resisted by buyers, and
very few bargains were closed.' At Leeds, on the
same day, the transactions were also unimportant,
the millers being determined to await better supplies.
The advices from the principal shipping ports on
the east coast are still firm • and it is pretty evident
that farmers are not disposed to make any important
concession. In cases where they have not been able
to get the prices demanded, they have preferred to
take their wheat home rather than submit to lower
terms, and at Spalding and Lynn on Tuesday, as
well as at Boston on Wednesday, needy buyers had
to pay 2s. to 3s. per qr. above previous prices.
Whether this advance will be maintained after the
dull accounts from the chief consuming towns shall
have been received may, however, be questioned.
In the western and north-western markets, where
prices rose more rapidly in the early part of the
month than elsewhere, a marked reaction has this
Neek occurred; and at Bristol, Birmingham, Glou-
cester, and other large towns in that part of the king-
dom, prices have already receded 3s. to 4s. per qr.
from the extreme point attained last week.
From Scotland we learn that very little increase
had taken place in the deliveries from the growers ;
and though purchasers had become somewhat cau-
tious in their operations, wheat, as well as most kinds
of spring corn, realised higher prices at Edinburgh
and Glasgow on Wednesday than on that day week.
The Irish letters still speak very doubtingly about
the late crop of potatoes ; but the reports on this
subject have all through the season been so conflict-
ing that very little reliance can be placed on the
same. Supplies of new grain had come forward
pretty freely ; notwithstanding which, and though
the accounts of the yield and quality of the crops
were mostly of a favourable nature, the upward move-
ment in prices had not then received a check.
Barley, of home growth, has again come forward
rather sparingly ; but the malsters and distillers
have not been eager to buy, preferring to wait better
supplies. Owing, however, to the smallness of the
receipts, former rates have been insisted on, and the
trifling business done has been at about last Mon-
day's currency. A few cargoes of foreign barley
have arrived, which, with what was previously on the
market, have afforded a good display of samples.
Having had a pretty active demand for feeding pur
poses, sellers hare been enabled to realise very nearly
Alonday's prices for sweet heavy qualities ; but to
' place Egyptian, and similar sorts, it has been neces-
sary to accept low terms.
The operations in malt have not been of much im-
portance, and, in the absence of business of conse-
quence, quotations have undergone no change requir-
ing notice.
The market has again been very indifferently sup-
plied with oats of home growth.
Wheat being much too high in the Baltic to allow
of business being done with this country, the advices
from thence have for the present ceased to be of much
interest, and some of our correspondents have become
less regular in their communications. The letters from
the principal ports state that, in the absence of sup-
plies of consequence from the growers, holders had
refused to make any concession, though the demand
had been the reverse of lively.
In the southern markets prices of wheat appear to
have been well supported; indeed, we learn from
Marseilles, that in consequence of a continued demand
from the interior, quotations had tended upwards
until about the middle of the month ; then, however,
a slight reaction took place, Polish Odessa, which had
at one time sold at equal to 475. per quarter, having
afterwards been offered at 455. 6d. per quarter.—
Mark-lane Express.
HULL, SEPT. 28.—The trade closed dull last
market day. Farmers brought forward a large sup-
ply, and their exorbitant demands checked business.
The same appears to have been the case with other
markets, where the decline since Tuesday has ranged
from 3s. to ss. per quarter. Millers had got well
into stock, and were comparatively independent.
Foreign and farmers' supplies coining forward to-
;ether, account for the decline, which, however, is not .
likely, we think, to be of long duration. Foreign is
not pressing on the market : the bulk of our stock
here is fine white wheat, the sales of which just now
;ire rather in retail. There was a good supply of I I
wheat again at to-day's market, but not at all equal to
that of last week; farmers were unwilling to submit
to the reduction which yesterday's London market led
millere_tc expect, and in consequence the business

done was but limited, at a declide. of 3s. -to 4s. per
quarter. Nothing doing in foreign, for the reason
assigned above. Grinding Barley is scarce and in
demand. In Malting, transactions are limited. Less
business doing in Oats, but no inclination to take
lower prices the expense of landing being already
incurred. Beans are in unproved demand, and seem
likely to e-mtinue so; the saute remark applies to
Peas. Our chief supply of the former are
Egyptian. We are without fresh arrivals of
Rye Meal; the article supports its value, and, with
the present high price of Cakes and other articles of
similar nature, is likely to be extensively used for
general feeding. With considerable arrivals of lin-
seed, chiefly from the Black Sea, but a moderate
quantity comes on the market; prices are conse-
quently well supported. Without any stock of foreign
linseed cake, the demand falls exclusively on Hull.
make, which are delivered from the mill as rapidly as
they can be made, at fully our quotations. We are
still unsupplied with rapeseed, which, with the present
demand for oil and cake, is extraordinary. Rape
cakes very scarce, and worth 6/. 7s. 6d. to 61. 10s.
There is no business to report in bones.
LIVERPOOL CORN-EXCHANGE, TUESDAY, SEPT. 28,
—At our Corn-Exchange this morning there was a
middling attendance of the trade, and a large show
of simples of all kinds of grain, flour, &c. There
was a limited demand for wheat, at a decline on priceZ
of this day week of Is. per 100 lb. on Irish new, and
of 64 on foreign. Flour, too, met slow sale at 265.
to 275. per barrel for Western Canal, and other kinds
in proportion. Oats were pretty steady in price.
Barley, beans, and peas were dull, and cheaper.
Indian corn and Indian corn meal were less free of
sale, at about previous rates.