The Lake County star., 1877-11-08
The European Grain Trade.

The Mark Lane Express, In its re-
view of the British grain trade, says:
"During the intervals Of sunshine the
past week good progress was made with
sowing winter wheat. The heavy
snow fall which occurred In the north
of Scotland entirely prevented the
ripening of the outstanding crops,
which had been cut in green state
for cattle. The present season has
been unusually disastrous to Highland
agriculturists. A good deal of English
wheat has been threshed out lately,
with results which, while confirm
ing the general shortness of the
crop, scarcely bear out the unusually
low estimate of Is, ,500,0 quarters, at
which the yield has recently been
placed by certain agricultural authors
ties. For all practical purposes our
own computation of IL ,O00, 900 quarters
made, in August last, is substantially
correct and, taking the annual re-
quirements of the country at 25 500, 600
quarters, we must still be indebted to
foreign impOrtatiOns to the extent of
1900, 900 or 13,000,000 quarters, be-
tween this and the 1st of August, 1873,
as the reserves of old wheat in farmers
hands at the commencement of the
harvest were quite insignificant.
Should importation continue at the
rate that It has been lately, just
grounds might be found for anticipat-
ing glut Of wheat but the present
time is the heaviest in the year, as far
as imports are concerned, owing to the
large outward movement which takes
place during the autumn from ports
which are ice bound I'm winter. Our
future requirements no doubt will be
met, considering the quantity and
quality of the American crops and The
reins of prices will be DOUBTLESS in a
large measure in the hands of that
country; but 1t Is difficult to foresee
any material alteration in the present
range of values, as, even IL fall of five
shilling per quarter took place, 1t is
not unlikely that America would ship
maize In place of wheat, and prices
would readjust themselves under light
er imports and increased winter con-
sumption. The weak point in the
trade Is beginning to show itself i'm the
Indian product, which still reaches US
In considerable quantities., and now
that America has resumed her old SUI
preMacy in the van of the nations TO
whom we look for wheat, India be-
comes an extra source of supply with
out a corresponding outlet. MilIers
for the moment appear to have lost
something of their olG prediction for
this class of grain, and rs holders do
not seem inclined to give way the
TRANSACTIONS recently have been the
reverse of extensive, not that with the
large supplies overweigbing the mar
ket and the general slackness Of the
county demand trade has been active
i'm any description of wheat, but that
the recent decline Of o shilling per
quarter has been chiefly felt upon CAL
cutta and American produce.
The supply Of maize has been for
some time small, and sharp upward
movement has been going on In prices
for both round and fiat corn In all posi-
tons, 80 shilling and 3 pence having
been paid for mixed American for Mo-
vember and December shipments.
The spot trade is equally strong, and
corn, which months ago could have
been bought for 81 shillings, IL now
easily salable at 80 shilllngs.
Barley Is steady but less active than
maize, and an upward tendency is OBJ
servable in prices. The number of
arrived cargoes of wheat at ports OF call
are steadily increasing. During the
past week, with q moderate demand,
prices receded pence per quarter In
all positions. Barley remains steady.