The Sun.
London, England, 1847-05-27 00:00:00

THE CORN TRADE.

(Prom the Mark- lane Express.)
The extraordinarily fine weather which has been ex-
perienced since the commencement of May has worked
a very great improvement in the appearance of the grow-
ing crops. The Lent-sown corn is everywhere looking
splendid, and though the wheat plant is still backward
its general aspect is healthy and promising. It is not
surprising under these circumstances that buyers of
grain should have exercised increased caution in their
operations ; and no stronger proof can be given of the
shortness of stocks than the fact that prices have con-
tinued to advance when so material an alteration
for the better has taken place in regard to our
future prospects. That the wheat harvest will be
later than usual—however auspicious the summer may
prove—is more than probable, but at present there exists
no other cause for fear. The continued firmness shown
by holders can therefore only be accounted for by the
supposition that the quantity remaining on hand is re-
duced into so narrow a compass as to lead to the belief
that greater scarcity than that already experienced is
likely to be felt before the next crop can be ready
for consumption ; and the extent of the foreignsup
sup-
plies is therefore likely to have a more direct
in-
fluence on the future course of the trade than any
other event. Within the last few days rather large
arrivals have come to hand fromabtrhoeadmaatrkts e held someon of the
principal ports, and at several of
Friday more anxiety was manifested to realise than had
.
previously been shown. At Liverpool on Tuesday there
was a large attendance of distant buyers, and the trans-
actions in wheat were on an extensive scale, at prices
6d. per 701 b. above those current on that day se'nnight.
Flour was then also in good request, and Western Canal
was quoted 495. 6d. per barrel. Subsequently the latter
article was more pressingly offered, and at a sale which
took place by public auction on Thursday the prices
ranged from 425. to 465. per barrel, but the quality of
the flour thus disposed of was ordinary. On Friday the
Liverpool market was again well attended, but wheat
was quoted 2d. per 701 b., and flour Is. per barrel lower
than in the beginning of the week.
The accounts from the leading towns in Yorkshire
describe the wheat trade as having become less animated,
the very high value of the article having led to an ex-
tensive use of substitutes; still prices rose from 2s. to 3s.
per quarter, both at Leeds and Hull on Tuesday. At
Wakefield, on Friday, business was decidedly dull, and
the advance of the previous market day was not sup-
ported.
The reports from Bristol, Birmingham, and other
western and north-western markets, are of a firm though
not of a lively character, and, with a contracted demand,
a rise had nevertheless, it appears, been established on
former rates.
At the leading shipping ports on the east coast
the excitement seems also to have in some degree
subsided; but little or no increase having taken place
in the deliveries from the growers the tendencyd.:
prices has continued upwards. At Lynn day following.
wheat was quoted ss. per quarter higher. Th.
Wiabeach market being held this day (Saturday) we
cannot in this place report the fluctuations there. Short
as have been the supplies of home grown wheat, those of
spring corn have been still more limited ; indeed, in
many parts of the country barley and oats have almost
ceased to appear, and the value of both has steadily ad-
vanced. These articles are now relatively cheaper than
wheat, and it is therefore not improbable that even if
the value of the latter should recede the prices of barley
and oats may be maintained.
Our Scotch letters speak well of the appearance of
the crops, and from Ireland the reports on this subject
are also favourable. Most kinds of grain were, never-
theless, dearer at the principal Scotch and Irish markets,
held on Tuesday and Wednesday; but should any reac-
tion occur here, it would probably lead to a decline in
those parts of the kingdom, as there can be no doubt
that the recent rapid rise in the English markets hae,
had a good deal to do with the advance in Scotland and
Ireland.
An increase has taken place in the supply of English
wheat into London, 1,913 quarters havir', been received
coastwise up to this (Saturday) evening; but the quan-
tity brought forward at Mark-lane by land carriage
samples from the home counties has been very small.
The total supply has, therefore, fallen somewhat short
of the usual weekly consumption of the metropolis.
On Wednesday the show on the Essex, Kent, and
Suffolk stands consisted of a few parcels left over from
previous receipts, there being hardly a sample fresh up.
In this position of affairs the operations were neces-
sarily on a retail scale, but the little business done
was at the currency of Monday. Since then the millers
have manifested less disposition to purchase, and the
market being rather better supplied on Friday, previous
prices were scarcely obtainable. The wind having been
mostly favourable, the arrivals from the northern ports of
Europe have been large, upwards of 32,000 quarters
having been reported during the week. The demand
has, on the other hand, rather fallen off, and a portion
of what has lately come to hand still remains undis-
posed of. Buyers from distant parts of the country
continue, however, to visit Mark-lane ; and though the
inquiry was not quite so brisk either on Wednesday or
Friday as in the commencement of the week, it was
nevertheless sufficiently active to enable factors to realise
nearly, if not quite, as much money as on Monday.
Since the top price of flour has been 85s. per sack, the
metropolitan bakers have conducted their operations with
very great caution; and the millers having found it diffi-
cult to make suck progress in the sale of flour have not
worked to the full extent of their power. American
flour has been taken slowly at about former terms; Bal-
timore has not been in so much favour as Western
Canal, and the latter has in most cases brought Is. per
barrel over the former. The arrivals this week have
consisted of 9,023 barrels.
Barley of home growth has come to hand very spar-
ingly, nor has the supply from abrontj been by any
means large. This grain has throughout the week met
a good steady sale, and its value has rather tended up-
ward; the advance, however, has not been of sufficient
importance to render any alteration in quotations ne-
ce,sary.
The stocks of malt a-e decidedly small, and the ar-
rivals of the article to 1 off week atter week; though th,
brewers have for some time past declined buying more
than necessary fur immeiiate use, still prices have gra-
dually crept up.
The total supply of oats, inclusive of 14,096 quarters
hem abroad, has amounted to only 14,808 quarters; and
from ail we can learn there appears little prospect of
more liberal arrivals. Of English oats the supplies may
be said to have ceased; indeed large quantities of the
recently imported foreign corn have been taken off
the market by purchasers from parts of the country
from which, in ordinary times, we are in the habit of
obtaining assistance. Under these circumstances, th,
quantity at this port is likely to be soon consumed;
and if it should prove that the near continental
ports are unable to afford further supplies, great scarcity
of tats will probably be experienced before the Russian
arrivals can come to hand. In the beginning of the week
the trade was decidedly dull; on Wednesday many of the
principal de ders were at Epsom, and but little business
was done. Subs"quently the demand slightly improved;
still the purchases were not large on Friday, and the rates
previously current could not be exceeded.
English beans had been sought after, and could hardly
be bought on as easy terms at the close as in the com-
mencement of the week. Egyptian beans on the spot or
near at hand have also engaged attention, and the late
advance has been firmly supported.
The high prices demanded for Indian corn have
tended to check the demand; a good many parcels have,
nevertheless, changed hands at very full terms, say 70e.
to 755. per quarter for American white, and similar
rates for other descriptions.
Rye has been almost cleared off the market, and the
orders which continue to be received from the Continent
for the purchase of this article cannot be executed for
want of supplies.
Pease have been taken to a moderate extent for ship-
ment to the north, and their previous value has been
maintained.
We have no later arrivals from America; the next
advicea thence are looked for with great anxiety.
From the Baltic the reports are of much the same cha-
racter as before; in many parts of the interior of Ger-
many serious riots appear to have taken place, owing to
the scarcity and high prices of provisions ; and at all
the Lower Baltic ports stocks of grain appear to be com-
pletely exhausted. At Dantzic, however, a fair quantity
of wheat was still left on hand on the 15th inst., and
good supplies were arriving from Poland ; as, however,
great scarcity prevailed in the latter country, it was
deemed probable that a portion of the corn originally
intended for Dantzic might be detained. The sales
during the week had been rather large, 950 lasts having
changed hands. The highest price obtained had been
81s. for a parcel of 60 lasts fair high-mixed, weighing
611 b. ; fine mixed, of 601 b. weight, had been sold at 795.,
and afterwards at 775. 6d. ; and the rates obtained for
inferior kinds had varied from 745. to 765. per quarter
free on board, the market scarcely finishing so well as
it opened, the anxiety to sell having rather increased.
_ Our Rostock letters are of the 17th of May, and in-
form 'as that the quantity of wheat had been reduced
into a e.
--rY narrow compass, and that the neighbouring
farmers had. o.lt,
A step hai,
n 'c'sr ceased to bring forward supplies;
consequently,ht been put to export business,
and hardly
yt
ef wheat were rhea was
being shipped. Good quali-
tiesard other heldkindas at equal
na t o 925. t quarter
free on board,
rates. per
r

_
At Stettin, on the 17th instant,wa prices were likewise
exceedingly high, and the
thou .of supplies had pre-
vented extensive oprratiens
articles had been active. A. gr.,.uagta
differentthema n
ycl eismuayned furof mostrye
rates parts of the
had attended that market from
interior, and the article had brought
p-r quarter. Supplies from Russia
.were aenellaolustoly7:-.).:.
and it was the prevailinz opinion that all which
pest ,d' hand from
might come to that country would not
cause much decline in price. Rod wheat of 591 b. weight
was then held at 56e.; and white Silesian, also weighing.
591 b., at gos. per quarter free on board.
At Hamburgh, on Tuesday, business in wheat was
not so active as it had previously been, the very high
value of all descriptions having checked the sale. Good
61b. red wheat on the spot was not obtainable below
955. to 963.; and for parcels to be shipped for the Baltic
there were no offers below 84s. up to 88s. per quarter.
About the close of the precedingweek rye had receded
-...-41.!-;;. 64,ti 11,e.r qnarter, but afterwards it rallied again,
'stad.dd _t to th inst. it was quoted 755. to 765. per qr.,
--
k free-m-11)0a .
The weAr appears to have been of a similar cha-
,. • . meter one tie Continent as with us, and the growing
(
f - _* , Crops are generally well spoken of, particularly in Hol-
-- '. '. anti
0 . and B7lgiuw, where prices have cousequendy
Z7C-t Well a =ore or less.
....../.........,
-7-----,-) " Prei:ch corn markets business seems also to
ila 4Ve influenced by the fineness of the weather, and
by rrOOrts from Havre, of the 15th of May, we learn
that quotations of both wheat and flour bad shown
symptoms of giving way.