Cotton Market Declines Amid Wall Street Drop and Weather Signal
New York August 2 Cotton futures eased after earlier strength as speculative buying cooled. Daily turnover estimated at 150,000 bales with active months slipping several points, underscored by Wall Street weakness and anticipated showers in north Texas. New Orleans spot remained steady with unchanged middling at 1.15 dollars, while dry goods showed quiet but firm movements.
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Weather, crops and cotton market update from Kansas to Texas
Weather forecasts show varied conditions from Arkansas to the Northwest with showers in parts of the Central states and cooler temperatures. Kansas reports a strong winter wheat yield around 70,007,863 bushels with higher per acre averages. corn plantings exceed last year by over 3 percent though progress is uneven. Cotton markets mix strong Liverpool demand with bear sentiment in New York. August reports indicate late Texas crops, rising short positions, and potential price declines unless futures soften, while nationwide cash grain and metal markets show mixed activity.
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Market Overcomes Irregularities To End Higher
New York stock activity moved to a generally higher level after a period of irregularity. Volume remained light and prices closed with net gains as investors awaited Taft’s Lexington speech. Bond and currency markets showed rate increases in thirty day bills and currency rates, while earnings and commodity items noted mixed moves across cattle hogs and grains with imports abroad steady.
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New York
Bft
Taft
Gub-Treasury
Honda
United States
Wheat Opened At A Decline
Chicago trading opened with wheat weak on broad selling. Warmer weather offset high cables from Liverpool. September fell to 8 8 and then recovered. Receipts delayed by telegraphers strike. Corn and oats weakened with wheat while hogs and lard moved higher. Local receipts 170 cars. Prices listed across futures and cash markets from Chicago St Louis Kansas City and New York with mixed directions.
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Harthwea
Sytar Baghy
St. Louis
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Unichanged
New York
Cotton Stocks Grain Reports From Southern Exchange
Reference list notes involvement of Fourth National Bank and Lowry National Bank with cotton stock and grain markets. Credit lines linked to 322 Corcoran Building Washington D C and brokers in the Southern Exchange.
MENTIONED IN THIS ARTICLE
Southern Exchange
Fourth National Bank
Lowry National Bank
Corcoran Building
Washington, D. Cc
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