The Sun.
London, England, 1847-02-05 00:00:00

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REVIEW OF THE BRITISH CORN
TRADE.
(From the Mark-lane Express.)
No time has been lost in getting the Corn and Navigation
Law Suspension Bills through Parliament, these measures
having received the Royal Assent on Tuesday lest. Whether
the importations of grain will be materially increased by the
remission of the almost nominal rates of duties previously
levied on arrivals of foreign corn may be questioned ; at; all
events no immediate increase in the supplies can be caused
thereby. Before it was known that Government intended
to take the steps they have, orders had been sent abroad to
buy up all that could be procured ; and these purchases
would, under any circumstances, have come forward. The
whole of the available stock at Baltic ports is a mere baga-
telle in comparison with what will be wanted to supply the
immense deficiency of food in Ireland. The same may be
said as regards the Mediterranean ; and though rather a
large quantity of wheat is held at Odessa and the Danube,
we shall have to outbid France and other countries, who are
looking to that quarter as well as ourselves for supplies, to
secure any large quantity there. Our principal resource
must, therefore, still be America; and we can only repeat
what we have on former occasions stated, viz., that we en-
tertain considerable misgivings as to her capabilities to fur-
nish 'adequate supplies in a season when the yield of grain
has been more or less deficient over a large portion of Europe.
We are, consequently, inclined to view the reaction which
has taken place in the trade in grain during the week now
about to terminate as likely to prove temporary, unless our
own farmers hold much heavier stocks than we have reason
to suppose. The anxiety to realize which holders of Wheat
and Bari-y have alt at once exhibited, has, as usual, been
met by increased caution cn the part of merchants, millers,
and dealers, and a rather important fall has been the result.
That some giving way should have occurred at Liverpool is
not surprising. as the arrivals at that port from America
have been very abundant for some days dast; if, however,
the wants of Leland are ❑early as great as estimated by the
President of the Board of Trade, the Liverpool warehouses
will not long retain what has just been stored. We have
recently received 's communication from a source we believe
worthy of credit relative to the state of affairs in the interior
of Ireland, which fully bears out the gloomy picture drawn
by the different speakers in the House of vommons, when
touching on the subject of Irish distress. Froth this state.,
ment it appears that the demand for meal of every descrip.
tion is so great, that the power of manufacturing it has
proved altogether inadequate; that the poor people con-
stantly surround the different mills, and take away Wheat,
Indian Corn, and Oatmeal, in small quantities of a kw stones
at the time, as fast as it can be made ; and our correspon-
dent accounts for the accumulation of stocks at Dublin, Li-

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auce, the boats, tic., usually employed in carrying goods
into the interior having proved wholly unequal to the pur-
pose. All this appears, however, for the present,. to have
been lost sight of ; and, as already remarked, a decided
change has during the week taken place in the tone of the
trade. At most of the leading provincial markets a rather
important decline has occurred.
THE FOREIGN CORN TRADE.
We have received two arrivals from America, the latest
being the packet ship Patrick Henry, bringing New York
advises of the Bth January, and accounts of corresponding
dates from other parts of the United States. The news
which had, up to that date, reached there from Europe, had
not been regarded as particularly encouraging ; and, so far
from any further rise having occurred, the tendency of
prices had been rather downwards. Good brands of
Genessee had been sold at sd. Sc. to sd. 56c., and other
western kinds at sd. 44c. to sd. 50c. per brl. A good many
vessels had arrived out, and the demand for ship-room having
at the same time rather fallen off, freights had slightly re-
ceded ; 4s. sd. per brl. for Flour, and ls. 6d. per bushel for
Wheat, having been taken for Liverpool. From the let to
the 31st December the exports of Flour had amounted to
232,894 brls., and in the first week of January close upon
20,000 brls had been shipped. Indian Corn Meal had been
in lively request, and large sales of Pennsylvania and Jersey
had been made at 3d. 871hc. per brl. Wheat had not excited
much attention, and good Genessee had been sold at 115 e.
per pushel. In December 276,757 bushels of Wheat,245,791
bushels of Indian Corn, 59,954 bushels of Rye, 21,75$
bushels of Oats, and 31,661 bushels of Barley had been
exported. _ _

At New Orleans, on the 30th of December, Flour was ob-
tainable at 4d. 50c. per brl., and Indian Corn at from 62kc.
up to 70c. per bushel, according to quality.
The advices received this week from the principal Medi.
terranean ports describe the grain trade as having become
very excited. In the Papal States the export of corn had
been forbidden, and prices had risen considerably in all the
principal markets.
A letter from Marseilles, of the 23d inst., informs us that
Polish Odessa Wheat had commanded equal to 61s. to 635.
per qr. free on board at that port. Marianopoli 595., and
Rctnelia 545. Our correspondent states that the anxiety to
secure wheat had become so great as to render the price a
matter of almost secondary consideration; parcels not ex-
pected to arrive for five or six months had been taken with
as much avidity as cargoes nearly at hand, and that the ex-
citement was increasing day by day.
From Trieste we have letters of the 21st January; Odessa
Wheat was then quoted 535. 6d. per qr. free on board, but
the freight from thence to a British port was 12s. per qr.,
with 10 per cent.
From Leghorn we learn that about 80 to 85 cargoes of
Wheat had arrived there, chiefly bound to Marseilles. The
demand for the article had been as active there as at neigh-
' bouring places, and prices had advanced materially. Freight
to England was 9s. to 10s. per quarter.
The Hamburgh mail of Friday had not come to hand up to
elate hour this evening; our accounts from the Baltic are,
therefore, not of such recent dates as usual. According to
the latest accounts fuom Dantzic, the highest price of Wheat
was 635. to 655. per quarter, but it seems more than probable
that a further rise has occurred since then.

At Rostock and Stettin holders had raised their preten-
sions, and few were willing to engage to ship Wheat in
spring below 625. to 635. per qr.
At Hamburg, on the 22d of January, several purchases of
Wheat were made on French account, and fur fine upland
red equal to 655. per qr. had been paid.
We have a very important communication from Antwerp,
dated the 28th instant. It appears that a huge number of
French buyers had attended that market, and had taken off
all the Wheat and Rye they had been enabled to procure.
This had caused an important rise in prices, and the former
article was, at the date named, werth equal to 70s. to 78e.
and the latter 525. to 55s per qr., with every appearance of
a still further advance.

Since writing the above the Hamburg mail of the 26th
has come to hand, further purchases of Wheat had been
made there on French account, and the tendency of prices
had continued upwards.

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