LONDON CORN MARKET.

Southland Times, Issue 915, 13 March 1868, Page 2

LONDON CORN MARKET.

Messrs Bttbbows & Pebks, writing under date " Mark Lane, 24th December, 1867," report :— Since the last mail left there has been, as usual towards the close of the year, great want of activity on the part of purchasers of wheat and flour; no very decided fall in prices can be noted, except on American, of which the arrivals have been, and still are, large, and during the month red spring wheat has declined in value from Is to 2s per 4961 b., aud flour about 2s to 3s per barrel of 1961b. nett. Arrivals from Australia since our last have been limited to two ships, the Flatworth and Salvia, both considerably overdue; the latter having only arrived at Falmouth on the 20th instant. Stocks of Australian wheat and flour here are becoming quite small, and quotations are scarcely lower than a month since; Adelaide wheat sells slowly at 76s to 77s per 4961 bex granary, and floor at 53s 6d to 55s per 2801 b nett, according to quality. No market reduction from these prices can be expected, as advices from Adelaide to the 26th October report no further departures for London, while the quantity on passage from Melbourne is quite trifling. As far°as an estimate can be made, about onehalf of our crop of wheat, has now been used ; which, if correct (and we believe it to be so), points to prices being maintained to April or May at least, and probably till harvest time, unless the arrival from the United States and Canada shonld prove larger than we have at present reason to expect. Since the closing of the canals there, wheat has risen nearly 5a per quarter in New York, which has prevented che. execution of many orders sent out. Importations from thence would, at the rates now current, show a loss to that extent. At yesterday's market, best samples of farmers' wheat brought an advance of Is per quarter on the week ; other sorts and foreign being unaltered. We think that 70s per 4961 b, duty paid and landed, may be relied on as the minimum price for Adelaide wheat, up to, at least, the middle or end of next May, and possibly even to the end of /uly. r;=^ — — — - i