Cotton Market Surges Then Steady After Census Report
The cotton market opened firm in New York on December 2 with gains near twelve points, spurred by bullish sentiment and daily trading on large blocks. Prices eased after the Census Bureau report disappointed, but closed steady up to six points higher as bulls maintained confidence in a firm crop outlook. Liverpool and New Orleans followed the same volatile pattern with heavy volume reported.
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Census Bureau Today
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Catton
Wheat market slips as world supply rises in December trading
Chicago price action shows May wheat off three eighths to one half cent amid larger primary receipts and small clearances. Corn and oats rise modestly on buying by commission houses and hedging by shorts, while provisions firm late on broker buying and short covering.
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Grain and cotton market notes from Chicago and New York
The report covers quiet trading in wheat corn and oats with slight gains at close. Provisions ease on stock data while hog prices rise. Coffee and cotton letters note bullish sentiment on expected government reports and active speculative demand ahead of bureau figures.
MENTIONED IN THIS ARTICLE
Chicago
Miller & Co Cotton Letter from New York Market Review
New York market opened strong with a sharp rise then fell back as a bear report appeared. Traders noted large volume of bales traded and the report showing up to the end of November. the day’s action suggested potential bearishness if the December report remains late.
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Miller & Co
New York
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