ENGLISH CHOPS AND WHEAT MARKET.

Oamaru Mail, Volume IV, Issue 1245, 14 April 1880, Page 2

ENGLISH CHOPS AND WHEAT MARKET.

All out-door work has been stopped by : the frost (says the Mark Lane Express of February 2), but a large proportion of the arrears into which wheat-sowing had fortunately been made up during the recent open weather. As the temperature has been so low, no apprehensions have been felt as to the too rapid development of the growing wheat. Indeed, in some districts, notably in Yorkshire, fears are expressed that from some cause the plant is deficient in vitality. This may be owing either to the severity of the winter, or to the fagt that seed of a suitable character was not sown. Many of the early sown fields are nevertheless looking well, as far as it is possible to judge as present, and it is to be hoped that Yorkshire advices do not furnish an index of the general state of the English crop. In Scotland farm work is tolerably forward in the earlier districts, but of course, there has been no ploughing since thft frost returned. The offerings of home grown wheat at the country markets have been on a morp liberal scale, and some improvement has been noticeable in the condition of many of the samples ; but in spite of the general firmness of the.trade, all except the choicest lots have been neglected, and difficult to sell. The imports of foreign wheat into London continue on a moderate scale. Last Monday's list of arrivals only slightly exceeded 30,00Q quarters, of which quaTY* tityonjy 7,8.82 quarters were from America, a smaller arrival than we have had ocoasi< 1} to note pf late. Business has been quiet, as despite the undercurrent of firmness which runs through the tradei, the week's requirements ha,ve been of an ordinary consumptive charaoter, but thescarcit y of English wheat in good milling condition has not unfrequently turned the demand on those descriptions of foreign produce which could be advantageously used aa a substitute. The statistical position of the trade offers few fre§h features of remark, but a further increase o.f nearly I,OQO,OQQ bushels may be noted in the visible supply in America, whioU now stands at 30,500,000 bushels, against 19,250,000 bushels at the corresponding time last year. According to moderato computations it is estimated that the requirements of. Great Britain and pranoe will reach 12,000 ? QQQ quarters between this and August, oxolusive of the quantity now on passage; Notwithstanding this, the trade continues discouraging to holders, as with liberal stocks to select from, and a bad sale far flour, millers have shown no desire to do more than meet their present requirements. According to the official estimate the surplus from the American wheat crop fo? 1879 is put down at 22,400,000 quarters, of which some 13,000,000 quarters have already been exported, No doubt the position is statistically a sound one for holders," seeing large as available supplies are, they are not in exoeaa of estimated wants ; but it is difficult to oonviuce buyers of this in the. aotual presence of goad stocks, the quantity of California,'!; wheat afloat, and the increased export movement from India, and it will be still more so should the season prove favorable to the growth and progress of the English crop. A development of the forces now at work upon the trade may be looked for in May or June, but before it seems scarcely likely th*t any marked rise can be looked for. Under any circumstances it will be necessary for the American ring" to hold over they? stocks for some time longer if their enterprise is to result in ultimate success. Meanwhile the gigantic attempt to force Up the.price of the staple food of the inhabitants of the temperate zone is regarded with little faith aud less sympathy,