The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-19

The Corn Trade ~ nurups.
(From tho Mark Lane Express- May 81
One Of those sudden changes which under peculiar
taken place. Up to the commencement Of May, the
spring was cold and ungsniai and the autumn
crops supposed to have been previously more or
less injured by the severity Of the wuter the
most gloomy iorebodngs respecting the probable result
of the next harvest we're entertained he uneasiness
on this greatly heightened by the exhausted
state 81 the stocks in gran0ry by the belief that the
quantity in the hands OF the likewise very
from this country to France and other continental
states. There consequently nothing extraordinary
in the rapid rise which occurred in prces indeed for
several weeks in succession the supplies proved made
quate the home and foreign demand and holders
enabled to obtain almost any price they chose to
ask the beneficial change which took place in
the weather produced little effect but the wonder
the growing crops soon began to and in districts
where scarcely before supposed TO be lett
the supplies increased at the time arrivals from the
Baltic began to drop in a several Of the principal
ports whilst buyers contracted their operations
proportion sellers manifested anxiety to realize UNI
I'll business has come a complete stand Having
rived this point, IL perhaps not be amss to
little into the real state OF the and endeay
ascertain in how far position is actually chang
oil for the better The chief not the only alteration in
our favor appears to US TO be that the harvest which
threatened be very late may be reasonably
calculated to commence early In average years
whilst here nothing about the aspect Of the crops to
give rise to any fear to the probable yield This Is
certainly an immense point gained, likely to
have the crop ready for consumption three weeks
earlier than supposed would be the which will
make great difference in the quantity required to be
imported The cessation Of expectation to the continent
has besides done away with drain stocks
and the reaction in price thus far appears therefore,
ranted by circumstances There is however danger
fall may continue too long We say danger for
N that the demand from foreign countries would
probably revive and II prices here were to recede
below the level of the continental countries where
scarcity prevails, a portion OF the supply originally
intended for Great Britain would be to be di-
verted from us to those States which might prove
should occur to render the harvest less favorable
than is now expected The fall in the value Of wheat
cannot be estimated less than los per quarter up TO
this time Saturday 10th Of Maya and there every
once the lowest point shall have been reached we ars
likely to have an extensive demand The miers, deal
ers and bakers are working up their stocks without
making any purchases and this they will probably
nue to do long they have anything left SO SOON
however, they exhausted what they have hand
sellers will probably recovered degree of
ddence; and if in the interval the weather should be-
come ut all doubtful, a portion of the decline would
speedily be Prices of all kinds of spring
pulse have been affected by the reduction which has
taken place In wheat; and this WILL to certain extent
continue be the long the latter article
cedes
The advices from Scotland speak favorably
of the weather might have been expected but in Ire
land plentiful showers, with high temperature appear
to have been experenced under the influence OF which
the crops have been forced rapidly forward,
The arrivals Of wheat coastwise into London have not
this Saturday evening amounting only s47a quar-
which, compared with the supply OF the preceding
dcarriage samples from the home counties has also
oeen moderate the town mllers having however come
10 the determination Of not buying whilst they have any
tocks the trade has been miseraby dull with decided
downward tendency in prices On Wednesday scarcely
bargain closed in which position Of affairs it became
almost impossible to quote prices but had purchasers
forward they might have bought at Is to 80 per
quarter lower On Friday would have been necessary
have made further concession OF 2s to 80 per quar-
have effected ales and this factors not in
disposed do but the mers to act that
hardly transaction took place or foreign wheat we
have again to report fair arrival viz 20 quarters
and portion of the previously received supply having
remained unsod there is now rather large quantity at
this port board ship. Importers naturally anx
ous avoid mourning landing expenses possible and
consequently manifested some anxiety to realizes
but the country demand having suddenly ceased has
become impossible sell largely at considerably
reduced rates In this state Of affairs part not the
whole Of what has lately received will have to be
taken to granary, and when this has once been done
there is likely to be less pressure on the market.
msrs determined to lower the tor price Of -four from
Sos to Sos per sack and they have been freely offering
their best marks this week at the latter rate without
being enabled to induce the bakers to buy Ship
Piles have also been very difficult of disposal and Norfolk
households have in many been offered S. to 6s
American -four has been wholly neglected and the de-
cline in the price of the latter has been fully great
on that of home manufacture.
The quantity of English barley brought forward has
been small and the receipts from abroad only moderate
The reduction in wheat and flour has however, had the
effect OF lessenng the inquiry for all other kinds OF
grain, and barley has not failed to feel the influence
The ring business done has been at terms decidedly
rienced making sales was greater at the close than
earlier in the week.
The operations in malt have been strictly retail
scale and the turn has been greatly In favor of the pur
chaser.
The market has been very sparngy supplied with
of home growth; from only 1871 quarters
from Scotland $40 quarters and from Ireland 244
ters having come to hand. Having however, received
3a5 quarters from abroad no scarcity has been expe-
rienced. Neither on Wednesday nor Friday were any
purchases of Importance made by buyers from the
try and the local demand being very restricted the
trade was langud in the extreme Under these crcum
stances quotations cannot be given for whilst
needy buyers had to pay nearly former rates for the
small quantity they required it certain thrt prices Is
quarter lower must have been taken to have sold
| largely.
Beans and pease have met with very little attention;
and with tring stocks and small supplies the value of
| these articles has tended downwards.
The inquiry for Indian has fallen of very
sideraby and though sellers have manifested DISPOSE
ton to meet buyers by they have been
| unable to make much progress
The effect Of the late decline in the value of wheat in
the British markets quotations the continent can
Of not yet be known but the general tone of
the adyces from the ports is somewhat subdued In
consequence of similar alteration in the weather to
that experienced here At Danzg however prices were
apparently still the advance the 22d inst. The
supplies down the Vistula had been small, and good
many orders having been received to buy high mixed
wheat Of 50 lbs weight per bushel had realized equal
Sos Cd quarter showing rise the rates Of that
day sennight Of about s. per quarter The arrivals
from the Bug. the Vistula and Lower Poland together
would 1t was estimated amount to about 10000 quar-
tiers by the end of June
stand for want Of supplies and very high prices
asked for the trhing stocks in granary.
FROM kostock We nave no auvlces tnB week. put leu
Stettin Of tn oath OF May informs that hold
wheat then asking equal to COS quarter
free board for qualities weighing only 90 ID BUSH
ell Rye been, and still continued in great request
for the interior and prices corresponding with 72s
quarter had been paid for the article The
in wheat had not been Importance owing in the
rs place to the scanty nature of the stock and fur
Their, to the extreme high prices asked The weather
had been cold for the season. still there
plants of the appearance Of the growing crops.
At Hamburg much less effect appears to have been
produced the market by the dull English accounts
the complete exhaustion Of the stocks the spot and
the continued demand IRON the interior having given
confidence to the sellers The rmness of the had
been further increased by the from Sweden stat
ing that the government had deter mined prohibit the
export OF all kinds Of grain except wheat Buyers had
| generally acted with much caution, but their wants
being pressing Gas TO 95s quarter had been paid for
wheat in retail and equally high rates for rye, barley,