The Sun.
London, England, 1847-05-20 00:00:00

REVIEW OF THE BRITISH CORN
TRADE.

The weather has been uninterruptedly fine during
the week, with just sufficient moisture to promote
vegetation, and a decided improvement has been
wrought in the aspect of the country. More aus-
picious weather than that lately experienced could
scarcely be desired ; and one cause of uneasiness,
namely, the backwardness of the crops, has in some
measure been removed. Still it is scarcely possible
for the next harvest to be an early one ; and it will,
therefore, be the more necessary to husband our re-
sources. What quantity of grain may still remain in
the hands of the producers cannot be ascertained with
any degree of accuracy, but the more the matter is in-
quired into, the more general becomes the convic-
tion that the smaller farmers have long ago
thrashed out ; and though some of the more
wealthy agriculturists may yet have a fair proportion
of their corn on hand, it is nevertheless certain that,
as a Imly, the growers hold much less grain than is
usually the case at the corresponding period of the
year. With regard to the stocks in warehouse at the
different large towns information is more easily ob-
tained ; and we are convinced that there is hardly a
town in the kingdom, excepting Liverpool and Glas-
gow, at which anything approaching a fair stock is
held. We do not, therefore, feel much surprise at the
course which the trade has taken, and feel some
doubt whether the top price has yet been touched.
Notwithstanding the extraordinary high prices which
have been freely paid of late for wheat the deliveries
from the growers have increased but very little; and
though hardly any speculation has taken place, the
consumptive demand has been sufficiently active to
take off all that has been brought forward. The con-
tinued pressure of the money market has also been
against a rise ; circumstances have, therefore, on the
whole, been far more in favour of a fall than an ad-
vance, but actual scarcity has overruled everything
else. The improvement which has been brought
about by the splendid weather experienced since the
beginning of the month, the decrease in the consump-
tion which has, as a matter of course, followed in con-
sequence of the dearness of the article, and last,
though not least, the caution which buyers have been
compelled to observe owing to the contraction of cash
accommodation, have all failed to check the upward
movement in prices, and a further important rise has
been established.
The arrivals of wheat coastwise into London have
again been very small, only 4,059 qrs. having been
reported during the week ending this (Saturday)
evening. The quantity brought forward by land-
carriage samples has been on the same limited scale.
On Wednesday the show on the Essex and Kent
stands consisted of a few lots left over from Monday ;
and though factors insisted on a further rise of Is. per
qr., a clearance was effected. Since then hardly a
sample has been exhibited, and the want of
supplies prevented much business being done
on Friday ; but the inclination to buy was
fully as great at the close as in the beginning
of the week, and the few sales made were at 2s. over
Monday's terms. In foreign wheat the operations
have been on an extensive scale, and a large propor-
tion of the recently received supply has already been
taken off the market, the greater part of what has
lately been bought having been purchased by country
buyers. The receipts have amounted to 15,873 qrs.
this week, whilst on Wednesday the sales exceeded
10,000 qrs. ; and on Friday large purchases were
again made at rates Is. to 2s. per qr. above those cur-
rent in the commencement of the week. The grana-
ried stock at this port is now so trifling as hardly to
be deserving of notice ; and should the country demand
for foreign wheat continue as active as it has been
within the last fortnight, we can scarcely expect any
accumulation.
The top price of town manufactured Flour has re-
mained stationary at 80s. per sack, and the sale has not
been, by any means, brisk at that figure. Ship Flour
has met with a fair share of attention at prices cor-
responding with the value of town trade. American
Flour was taken pretty largely on Wednesday at 50s.
to 525. per barrel, but the flat accounts which have
since been received from Liverpool imparted a some-
what languid tone to business on Friday ; still there
was no giving way.—Marh-lane Express.