The Lake County star. [volume] (Chase, Mich.) 1873-current, 1877-10-18
The European Gram Market.

The marx Lane Express says three
weeks of fine weather has greatly
changed the position, II not the pros
poets, OF the corn trade general
ly, rendering threshing possible
and improving the condition. There
Is q much. larger supply of English
wheat than seemed likely, the returns
of the last week or two showing some
thing like the usual quantity sold.
This has tended for the present to
lessen the demand for foreign wheat.
AS arrivals have been good; and ship
ments from Atlantic ports very
large, trade has been overdone for the
moment and prices have given way.
With arrivals of from 10000 to 1000
quarters of American wheat per week
at Liverpool, and the disappointing
demand, holders have made .conces.
siOns each market day, and prices are
from 3 to As per quarter lower than
three weeks ago. Whether this state
of things can continue remains to be
seen. The immense shipments and
also early period would seem to lcoun-
tenance the highest estimates as to the
exporting power ofthe Atlantic States.
but with such prices as are now ruling
in America, so far above, not only the
resale here, but the value in any Of our
markets, 1t seems quite incredible that
the shipments could continue on any
thing like the same scale as during the
past month. 1t seems inevitable that
they must fall off very much, espec-
tally as forward contracts are not made
to anything like the same extent for
October and November shipments as
for September. Indeed for the last six
weeks very few offers have come from
the other side. All this certainly sugs
gest the idea that the shipments may
now for some time be on much more
moderate scale. Any sign of this
would tell Immediately on the trade,
for the quality of both winter and
spring wheats is unusually fine, and
the flush of English supplies is nearly
over, while the condition will soon
become very bad. A very large de-
mand may, therefore, be expected for
American wheat, for as the Russian
supplies will soon be cut off for the
winter, there Is nothing else for the
consumption of the country to go upon.
Another influence TO affect the trade
favorably may, come from France.
The trade there has not gone as was
expected. An active demand on the
part Of French buyers would have
seemed to be fully justified; but this
may be changed. Like ourselves, they
have had fine weather, and improved
condition, and in consequence home
supplies. It Is difficult-fOr us to i'm
agine to what extent the trade is par
alyzed and restricted throughout
France, especially in Paris, by the
danger and anxiety Of the political sit
uation. Should this crisis be happily
passed, there would Immediately be q
revival of trade, and not least in the
corn trade. We should then probably
see the present dullness give place TO
activity, the French buyers proceed
ing at once to supply the necessities
which all admit exist this year, but
which hitherto seem TO have been re-
garded with indifference The stock
of oats in London is very heavy, about
440, 900 quarters, against $4,000 last
year. The stock of wheat Is about
$4,000 quarters. against 400, 900 last
year. .s,,r
The Times says that since the begin
ming Of the present year we have Inn
ported G23,000, 900 worth of wheat
against ELS, ZOO, 900 worth last year.
Curi0usly enough the increased sup
plies have not yet come from the
United States, which sent US nearly
1000, 900 cwt. less this year than last.
The chief sources for extra supply have
been British India, Russia, Germany,
France and Egypt. No doubt India,
Egypt and Russia have been stimulat-
ed to export more largely than usual
by their financial necessities, but the
figures are none the les significant on
the corn dealers In the United States
may, hold back q little too long In the
It fs quite evident from the ease OF the
market at present that It, will not yet,
ct all events, bear squeezing.