LONDON MARKETS.

Press, Volume XLVI, Issue 7442, 16 October 1889, Page 4

LONDON MARKETS.

The following is Messes Berbt, Barclat and Go.'a grain report for the Australian and New Zealand mail, under date London, 4th ulfc.:— Wheat—St. Swithin has maintained his proverbial character this year, and the forty days' rain have impeded harvest work and done some damage to the crops. Laat week, however, a decided improvement set in, and a few days of hot sunshine have enabled great progress to be made. In the southern districts the fields have mostly been cleared, while in the north reaping is being pushed on energetically, and the condition of the corn is vastly better than seemed probable a fortnight ago. The yield is estimated at thirty bushels per acre, or a total for the United Kingdom of about 9,500,000qr5. The fine weather has had its usual effect in depressing the market, and with the prospect of an early supply of home-grown wheat buyers hold off, and prices generally rule in their favor to the extent of Is per' qr. Our local market is paralysed by an extensive strike among dock laborers, oargemen, carmen and .others, which not in dock, but also to the delivery of goods ex warehouse. English Wheat, of the old crop, is in small supply, and sells at previous prices. Samples of new wheat are being more freely offered; tney vary, very much in quality and condition, and, range in price from 28s to 38s per qr., being a decline of Iβ to 2s per qr. from the {opening rates. The average price last week of 31s 2d per imperial qr. is 5d higher tor the fortnight, and compares with 36s 4d in the corresponding week of laet year. Foreign is irregularly lower to sell and meets with little demand. Californian at 35s on passage, and 34s 6d for shipment, shows a decline of Is to Is 6d, while American, Russian, and Indian may be bought at Is per qr. less money. The Continental markets are quiet and rather easier. American markets are fairly, steady, notwithstanding a limited inquiry for export. The spot quotation of No. 2 Bed "Winter in New York at 85J cents is 1£ cents lower for the fortnight. Their visible supply ia only 14,386,000 bushels, against 29,270,000 bushels at the same time last \ ear. Their shipments £o Europe in the fourteen days amount to 349,50Uqr5., of which 50,000qrs. are from California. The total quantity of wheat and flour afloat for the U.K.. including ports of call for orders, is now estimated at 1,835.000qra., against 1,954,000qr. twelve months ago. ..-•-.. Australian—On the spot is nominally unaltered at 38s to 39a for Victorian, and 40s to 41a for South Australian per 4961b ex store, but business is suspended owing to the strike, i ; New Zealand is in a similar condition, the vessels which arrived Within the past three weeks being still unloaded in the Docks. Quotations are nominal:—Fair to good Tuscan, 38s to 395;. dp do shortberry, 34s to 3os per 4961b, ex store. Off Coast—Two cargoes have arrived— Ship Victoria, from Lytteltoh, with 8437 are. ordered to Cork; ship Earlscourt, from Timaru, with 8400qrs, not yet disposed of. - : ' Flour is steady and commands full prices where it can be delivered. We quote superfine Australian at 26s 6d for ordinary orands and 27a 6d for Patent Holler per 2801bs ex store. ■. , • Barley—High prices are asked for fine bright malting qualities, which are scarce, but maksters abstain from operating unci! they can form a better estimate of the new crop. Oats are firm and fancy prices are being paid in our local market for parcels available for immediate delivery. Beans—Unchanged, New- Zealands at 38s to 39s per 5041b, ex store. , The only arrival of grain at this port from the colonies during the past fortnight consists of the ship Sardhana, from Ly ttelton, with 12,424 bags wheat and 2576 sacks beans. • .