, 1875-08-14
The Advance In Rreadstua,.
From the New VOL Tima.1

|
Those OF our readers who are not immedi-
a'eiy interested, and who have noted for the
last few days the frequent statement in our
commercial reports that wheat had advanced
from three 70 five cents a bushel, do no. prob
ably realize the extent to which the market
for breadstuffs has recently been affected.
Ou the 1st of July, We quoted wheat at 81
% a bushel, taking No. l Milwaukee spring
Hs the standard of comparison) This morn
ing the same grade is quoted at 81 5O-an
advance of % cents a busbel, or 2l per cent.
in three weeks, mostly taking place during
the last week. Flour, which was quoted on
the lst inst, at 50 90 TO s. 80 n barrel, is
this morning quoted at Sc 25 to SO so, in
advance of 10 per cent. Corn feels the I'M
pulse, though TO Il less degree, and has ad-
| vanced in the same period from IS cents o
bushel to go cents and 9lI5 cents or about
l2's Per cent. These are very striking
changes, coming as they do in the midst Of
season of great depression, and when the
signs of a revival of trade were extremely un-
satisfactory.
The occasion of the advance Is. of course.
the prospect of considerable diminu,iou in
the foreign crops, which compete with those
OF this country IN supplying the various for.
eign markets, especially the English. We
do not pretend to be able to judge with any
degree of accuracy of the extent TO which
This diminution is likely to go. The reports
received are somrw hat conflicting, but fair
proportion of the recent activity has been
caused by purchase for actual export, and
this is n proof that hose, whose interest it j.
to Judge carefully of The matter credit the re-
p 'rts most favorable to our markets
Ii there should be Il considerable and steady
demand for American breadstuffs abroad, it
would 90 great way toward restoring the
prosperity of the country, for our breadstuffs
are very important part OF our exports.
iloadOn dispatch TO the New York Herald, July 22l
Advices received in London from the coun-
try districts of England, TO this date, repre-
-enr that Notwithstanding the favorable pros-
poets during the season for sowing, and the
encouragement given by the early growth,
the late lncessant rains have caused almost
irreParable damage to the crops throughout
the kingdom.
The entire advance in wheat has been
eight shilIings Per quarter since the recent
=--------- -e~l-O'I"e Ito crop riiO'eI.ieIIs
from Africa and elseW here set in.
In respect to any further advance, much
will depend upon the steadiness and sound
judgment of the operators.
II Is regarded, however, as improbable
that even favorable weather will operate to
produce any considerable decline.
AdVices from Hungary report considerable
damage in the fields, without advance in
price there until the London market becomes
improved.
In South Russia there has been more dam
age from drought than fron wet, which
will, however, limit the Odessa shipments.
In France. besides The floods, the harvest
Is later than last year, and not so good.
There Is sharp demand far a large trade
in all classes OF American wheat, four,
maize, and barley at higher figures, with
lLge orders already waiting communication.
only a small portion having gene forward,
principally now on French account.
L4rg,- orders will 20 out if, upon inquiry
from France business is animated, but the
weather being better, operators are, in many
cases desruus 10 secure prUfts.