The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-07-23
AN ACTIVE GRAIN MARKET.

PROSPECTS OF A LARGE EXPORT TRADE-roR-
EIGN DEMAND INCREASING FREIGHTs, &C.
The excitement IN the grain trade still contin-
ues to increase, and rom all the indications IL ap-
pears to be the general Impression that not only
will there be an active demand for all KINGS OF
breadstuiIs from the United Kingdom, but also
from Continental Europe. The unfortunate and
devasi ating hoods winch have prevailed through
out the grain proouclng districts oil france, Ger
many ana England and the drou9hts In RUSSIA,
Hungai ana Poland are already producing no.
ticeabIe effect on the corn markets OF the Old
World This IS readily seen by the increased rates
that arc obtained there, as reported by cable.
The market in this country, and especially
in New YORK, has not been slow to feel
the impetus thus given, ard prices
have accordingly advanced and are daily
augmentiDg. Every oaY too, brings fuller orders
10 merchants ana brokers on This side to pur-
chase large parcels OF all kinds OF grain and 1our
for forward cellvery. The demand Tor bread.
SUNS on the spot has also apprecldDly increased
during the PAST week, aud, IN lact, The greatest
ACTIVITY prevaIis In every branch OF the trade.
Where Dut "a short t1mS'slnce comparative stakha-
ZION prevailed now all is ne. bustie ana excite-
ment. Vl5lJ 10 tie corn counters III the frO-
ouce Exchange clearly proves TINS, LOT now IL
only requires that an average lair sample OF
wheat SHOULD be offered Tor sale anu tnece
are Immediately dozen Loisy bidders
Tor the parcel or course, there Is great
deal OF speculation going on, and buyers are IN
turn sellers whenever SHADE o. prons Is 20 DC
obtained. For The most part, however, the Dusl-
ness done IS Tor The purpose OF immediate snip
ment. In connection vita tne oeInand Tor actual
export there is the fact that no more arrivals OF
gram can be expected at this port Tor several
days, owing TO the recent break In the Erie canal
near PALMYRA these acts taken conjOiatly
would natui any tend TO an advance even unoer
ordinary circumstances. III is, however, the
opinion OF the leading operators III Tue TRACE thsg
the business tEls year must or necessity largely
exceed that winch has been done Tor many years
past, Tor the reason OF the mlslortunes watch
hnu lot nfa
The market for wheat yesterday was higher.
three to SIX CONS. For corn Tie demand was less
active, although prices ruled lroAi TWO 10 three
cents above tie rates OF the day previous.
Flour advanced ten To twenty cents, with
good demand Tor L ndon-
Advlces from London show that prices are
steadily advancing; ana that They nave not
reached higher hsure up TO this date Is &C
counted for b. the iact mat specul.iofs nave been
realzlng on their cargoes lately arrived at prices
slightly under The market rate in order TO secure
profits. These are now, 1t Is thought mainly dis
posed OF, and unless there should be reports of
more favorable weatner, prices VIII rapidly 20 up.
Yesterday the caole despatches received late IN
the afternoon showed mat the weather
was improving; but this had no marked
eject on the market mere, Tor dealers
all argued tsat the damage already done
and they believe that the gram that VIII be
garnered in the affected districts VIII be unfit Tor
human 1ood and Can only be used for cattle. The
activity In corn Is brought about by the Dee that
there must arise great demand Tor this article
lOr IeeuluS PURPOSES ~ UclnR tIdb Tue
hay crop In Europe, especially In England, mas
been almost entirely spoiled, the grass having been
cut ana washed out oy the heavy rain, so that 1t
will be out OF the question to stack 1t as hay.
Freights for imnediaJ shipments are firm end
fractonaliy higher, with hardening tendency.
For steamer TO Liverpool the rates are 7]sd. on
corn and 3d. $40. on wheat. BY sailing YES
sci, 10d. to London on wheat and 3s on nour. TO
Glasgow tue terms are 91sd on wheat and corn
and IS. to IS. Sd. on hour. For cearter on ves-
sci TO arrive the rate Is about Is. g.. to S. per
quarter, according TO date OI arrival, to call for
orders In the United Kingdom, incuolng lac Con-
tlnent. The amount OF tonnage pointing TO this
port at the present time Is SAID TO be much less
than usual.