The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1866-11-03
Produce Markets Great A dvnAce
In tho Price OF Corn.

80 . -.
Ons Of those extraordinary upward bounds
OF the market, by which men grow rich ia a
day, spd which occur but once in dozen of
years, occurred during the last ten days. The
movement commenceG in Europe. Corn,
which, for year or more had stood at 2Ss
@2ss,. per quarter (sl.20@$l. 25- ALLOWING
so- gold, per busheD was quoted one morn.
| ing by the cable at 30s., next morning at 32s.,
and on the LIST inst at 34s.
What was the cause? A short grain crop
i, in Europe. This, however, should have sen,
| up wheat more than corn but strangely
enough, whea, showed hardly change. The
great movement was IN corn.
The effect on this side was magical. Cora,
which on the LIST of September was worth
Soc bushel in Chicago and about IS in
| New York, rose in ten days in Chicago from,
! 60e to $l.oo per bushel, the last quotation on
Thursday, and the tendency was still up
ward The advance in Ottawa has been in
the same proportion. In New York the la
test quotation is 81 80. OF course this ex,
traordinary rise is, to some extent, feverish
and speculative. for it is above the rise in
Europe, where the M ovement originated ;
and it strikes us As doubtful, therefore,
| whether it can be maintained.
The grain crop of Europe is undoubtedly
short, and 10th wheat and corn will be wants
ed from this side. The belief however, en-
| tertaIned there, that on account Of the early
| frosts, the corn crop Of this country is sh, TT,
| is mistaken. We have before US the month
ly report # Mr. Newton, Commissioner o.
Agriculture, for October. from which we
gather these facts:
Returns of the local correspondents up TO
the first of October verify IN ali essential
particulars the statements respecting the
crops contained in previous monthly exhib
tons. The condition of corn has suffered
some deterioration from early irosts and ex-
cessive rains, but crops are larger than the
largest ever previously chroncied in the
country. In the production Of wheat, next
to corn, one of the most important cereals,
our agricultural population has been unfor-
tuna'c for the present year, now nearly COM
pleted. The yield will not vary much from
LA, 900, 900 bushels, showing a small per-
centa-e Of decrease, which Is fully compens~
ated by the comparatively superior quality of
the grain. There is 100000 bushels more
than the crop of 1859, and is within 5000,
600 of q product in proportion to the iucress
ed population.
1t is evident that The entire wheat crop
will exceed, by several millions, shat OF lSj9,
when the yield was reported at l73, l04,92t
bushels. There were then FIVE and half
busbel- to ca b individual. l. 1866. the IS,
Inmates point TO FIVE bushels To each inhabi>
lan' There i, 10 ground then for appre-
tensions Of scarcity. aud little excuse in The
amour. of the crop for starvation prices.
The yield o. oats is e1tr>1rd nary, and the
quality excellent. The indications point 10
an Increase from III .492, O72 bushels III $50.
to 27l .9l2, 69j in 1866. 1t is the only crop
in the South tina; mainlaius an equality with
its last census exhibit.
While corn has thus gone Up r! G Fcuni,
wheat has also beer advancing, but :. more
steadss pace. The upwa.li movement in
rueat Commenced a month ago, the closing
price in Chicago on Tuesday evening being
abou. 1922 for No. spring, All advance OF
about 20 cts. in four weeks.