New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-26
NEW ORLEANS REPUBLICAN SUNDAY, July Us. 1858

The Grain Trade of New Orleans.
WehAve received for publication from l., j. Highly
Son, of the New Orleans Elevator and Warehouse
Company the following lsttsrrslating to the grain
crops of Great Britain France the Pacific coast etc
The letter fellows:
NEW YORK, July II. 1868.
Messrs. L. j. Highly & Son, New Orleans, La:
DEAR SIRs-Our latest mail advices from abroad
report 4 continuance Of droughty, weather in the
temperature, and all spring and root crops have
suffered more or less severely for want Of rain also
soils, but on well farmed lands of which verJ large
percentage of the acreage under cultivation consists
could strike deep roots in search Of moisture the
crop generally reported luxuriant, and it is hoped
than full average yield will be secured.
me accounts from France are conflicting, sccord.
whole II IS estimated that full average crop will be
RRS avpt tS while from Germany Hungary and
Italy the yield is satisfactory but Spain is said to be
again slightly deficit, although we attach little inn
and About theslea Of Azot. and around the Black
rain was also needed in Sweden, the Russian Baltic
dominions and in the Danuban PrincipAlities, STILL
Pg
1t 10 very likely the prospects Europe are good for
Testina massi6eent efop. and in the Osnsdas we
are reliably informed there was nearly double the
year With oonsidePabe Increase Of winter, both Of
which, With all other crops there, give evidence of
great hpunQAnCe Win BuCn prospects, the pre-
dominating tendency of prices is DOWNWARD and the
oere 70 get out q stock appears to be very general
new crop for August delivery at 81 e5 gold o 100 bs
the spot valae being 81 go which, however the wires
y bushr with exchange at 100, the value in sterling
money is equivalent to 32s 80 u quarter of bs
2240 MS mo primage), but for August put it at f3,
or rs lOd o. quarter Insurance AZ u cent on say
freight and Insurance AZ to,dsy's Liverpool quo.
taton Of iSs % GENITAL fer California wheat and lis
Sd for No Milwaukee the difference in value is So q
quarter; hence to place this market level with
that at San Francisco sos Cd q quarter cost freight
which at Cd i Go b or Is ID y quarter, freight By
steamer and insurance X cent on say 40s leaves 35s
ad u quarter here for the cost and these figures at
lOy exchange f!n are equivalent to lO7 h 6ushel,
golo, or l50 currency Now we notice sales IN Chi
Seller August equal to about $50 als5 here, and
me me question very naturally arises whether san
month and which we have shown is equivalent to
only 1850 d bushel, currency in this mArket for No
Is too low, or. whether Chi, ago at equal to 1900
1t is to be borne in mind that California has ex.
ported for the year ending the first instant 6l120
bushels of wheat, besides large quantities of flour
ana with crop this season Of nearly double that
OF last year about % coo COO bushels, her export
ing capacity the coming year may reach the enor
nous, and to many unexpected figure Of l2OOO00O to
portation of wheat and -four into the United King
dom Of Great Britain and Ireland in year of great
1t is not 10 be expected that the full weight of the
present years ductions will be felt in the English
toward Christmas, when British farmers, as Gus
tomary, will deliver freely, simultaneously probably
with heavy importations from this side
the Pacific ports, and Southeastern ku
rome but the manipulations constantly
going on in the markets at our upper lake ports
lead TO fictitious values there keeps tAe trade in
uncomfortable and unhealthy condition, and mill
tates severely against the interests of millers,
operators and all engaged in moving the crop to the
seAboard and therefore the quicker this question of
supplies is thoroughly and publicly canvassed by the
trade throughout the country the better for all
gagged in legitimate operations connected with it, to
the end that the producer receive for his wheat
the equivalent only of its probable prospective value
in the controlling markets OF the world.
We remain, yours very truly,