The prediction that grain will be considerably dearer before Christmas,
which was laughed at by most people a few weeks ago, does not seem quite so unlikely this week. The presence of a number of Continental buyers at Mark Lane yesterday gave a renewed impulse to prices ; and although but little business was done, owing to the high rates demanded, an advance of 3s. to 4s. per quarter on wheat was established. The average of the last six weeks is 72.. 5d. ; nearly 32s. above the aggregate average of last year. The renewed demand for wheat on foreign account is an element which seems to disturb the calculations of the trade very much, as it is impossible to say to what extent it may go. There is, however, no apparent tendency to speculation. The state of the money-market and the remembrance of what happened to the leading houses in the trade in 1847, seem to operate as a check on operations of that kind. The high price of potatoes is said to have caused an increased demand for Indian corn, and it has gradually risen to 44a. 9d. per quarter ; a price which ought to bring a very large importation from America, as it has always unlimited quantities of that cheapest of all grain to spare. Those parties who profess to have made extensive inquiry into the result of last wheat harvest still affirm that the deficiency was much greater than is generally estimated.
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