Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-07-18
FrOm the London Shipping GaIett.. OF July I.,.
Review Of the Grain Trade

The depression in the wheat trade week has las We
anticipated would be the easel proved Of short DURATION
were however, hardly prepared for so important an
advance has since taken place The upward
has been caused principally by unexpected aud extern
sive demand for wheat for export the Continent wlh
this will continue is the question.
The quantity taken has been very considerable. i,dsed
the greater part Of the cargoes from the Black Sea and
Mediterranean arrived of the or near az hand have
been eagerly brought up for French and Belgian
and the rise some qualities has amounted Sc to Is
per quarter in the short space of ten days The effect
which many thought would be likely be produced ON
the trade by the supply which known TO be on na.
sage from ports east of Gibraltar cannot therefore now
be looked for and though is scarcely probable that the
advance will go on at the rate still it is doubtful
under existing circumstances whether purchasers vii he
enabled 10 buy cheaper
Previous to the commencement Of the export demand
it had become evident that consumption had kent pAes
with supplies. The enormously large arrivals from abroad
in May disappeared in an unusually short time and before
the middle OF the month OF June the temporary
occRsoned by the simultaneous receipts the spring shin
ments from the Baltic and Black Sea had in great
passed away; indeed prices had already rallied % TO 81
per quarter at many Of the large consuming towns before
the new drain in our stocks began
We have on form or occasions given IL IA our oni,or
that the unfavorable result Of the last harvest in this
try and in France would be manifest itself sooner
or LATER and this belief induced to expect rise We
think that this would have occurred even If there b.d
been nothing else 10 favor upward movement: Whsn
therefore, other circumstances ranspred TO lead TO the
weather in the spring aud early part Of the summer and
lastly, the possibility Of between Russia and Turkey
we looked upon advance TO extent as certain
How high prices OF wheat might be driven up il the
export demand should continue il impossible 10 oresee
whilst the hand there nothing in the present posi-
ton Of Affairs 70 lead to the conclusion that quotations
can give way materially Business in wheat commenced
rather quietly at hark-lane Monday. There was a
small show Of samples the Essex and Kent stand, hut
the miers were very reluctant to pay any advance A
lew OF the best lots we're selected at prices about
per quarter above those Of that day week whilst the
Improvement on the general scarcely quota.
BILE
The large transactions which took place in
foreign caused factors to raise their pretenons on
wednesday, aud this morning quotations least g.
Ss quarter higher Than they in the beginu
the week The arrivals Of wheat from abroad have heen
moderate, and importers have manifested no anxiety to
realize from on board ship. Meanwhile many Of the oar.
GELS in granary have been Withdrawn from the market
Late Monday, sales rather large scale were made
al advance on the Of that day week Of Is Der
quarter further rise OFFS per quarter has been insist
ed Oh since then, which has tended check sales Sill
fair amount Of business done on "Wednesday a.
well as this morning. a. the enhancement named.
The great feature has however been the saes Of float
ing cargoes; indeed il l. very long time since we have
witnessed transactions Of such magnitude a. have
place this week Nearly all the wheat which has been Of
fered from the Baltic porte at anything like reasonable
terms has been placed besides which the sales Of Blak
Sea wheat have been very large.
To give some idea Of the rise, may state that Polish
0dessa which might have been bought in the early part
last week AZ Sis " S5s sold freely Monday Al 4Os n
As Tuesday a. 42s 3D. and since then continued Dur
chases-amo5i wholly for foreign account-have caused
prices % rse At 49, 70 45s quarter and freight
Lower Baltic wheat has brought 4Gs 10 47s per quarter
on board. Quotations Of town made -four have no, thus
far been put up but Of the country ilors bsv,
| rsised their pretensiOns il 10 q per sack.
Ia American -four immense business has been done
and the rse sncehis Day week be esmated Al fan,
IL per barrel % Monday aoue 900 70 20 600 barrel
we're taken for French account 10 Indian corn little ha
been done, and Notwithstanding the great rise IN wheat
| prices have remained much the same before