Cotton Market Turbulent Start to Year in New York
New York cotton opened irregular with a 7 point advance and swung to a sharp decline amid heavy liquidation. Bulls reportedly unloading, prices rallied intraday then weakened toward close, finishing lower by about 33 to 49 points. volume around 1.5 million bales.
MENTIONED IN THIS ARTICLE
New York
Westerday
Uniebulla
Sorat
GMA
Liverpool
Estan Dusinesa
Market Turmoil in Cotton Prices Across Markets
New York December 30 reports show volatile cotton trading with wide swings. Bull leaders questioned as prices dip late day after earlier advances, with spot markets in the south mixed and port receipts around 50,000 bales. Analysts warn of further declines before a possible rally, while Liverpool and New Orleans show varied moves and persistent uncertainty among traders.
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Britain
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Charleston
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Houston
Unay
New York
Townsend
Japan
Pensacola
Great Britain
Continent
Mexico
Atlanta Brokerage Co
Ratton
Manchester
Atwood Violett & Co
Rew
New York Journal of Commerce
Todny
Hester
Hobson
War affect on grain and provisions seen in trading
Markets rallied on war rumors lifting May wheat to new highs while corn oats and provisions also advanced amid strong demand and heavy buybacks by traders. Receipts were mixed with large primary and spot trades, Armour influence noted as buyers supported declines.
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Chingo
Shorts
Armours
Howell Jones Co
Chicago
Honcey
Cothran & Co
Wheatmarket
Liverpool
London
Japan
Rusaia
Cudohy
Atmonar
St.Louis
West
Cudahy
Market volatility and war news shake grains and cotton
Expert demand signals push prices higher while shorts cover in a strong market. May offerings surge to 38 cents amid war news, with hogs and ribs trading, and corps and packers active. Wheat dull holiday trade, overseas factors and Argentine weather add to weaker cash demand. cotton futures crash with heavy shorts covering as traders fear a new meltdown.
MENTIONED IN THIS ARTICLE
Ogate
Patten
Baxter & Co
Chicago
Broomhall
Minneapolis
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