Nervous New York cotton market opens year unsettled
New York and New Orleans reports show a nervous cotton market with active selling and late-day recoveries. Prices weaken after a sharp Liverpool slide, with March futures around 11.48 and spot demand quiet. figures show ample supply and quiet week-end demand. Liverpool prices ease signaling broader weakness.
Wall Street Ends Holiday Rally in Mixed Markets
Stocks and bonds showed muted gains amid holiday trading as bear pressure hit cotton and wheat futures. Reports from Chicago and New York stressed mixed momentum, with wheat and corn values steadying on export demand while notes of heavy clearing and shifting funds hinted at upcoming market movement.
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Wheat markets ease then firm on Russia exports
Chicago January 2 The wheat market eased initially on larger Russian shipments but turned firmer as Liverpool prices and improved demand supported May. May traded 67 7/8 to 88 1/4 cents, closing about 88 1/4 cents. Corn and oats were steady to modestly higher, with live hogs lifting the pork market. Raw figures show clearances, receipts, and visible supply shifts. cotton prospects weighed on futures, while prompting bears to predict lower prices.
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Market Decline in Liverpool Furnished Incentive
Southern Exchange New York reports a drop of about 13 points driven by Liverpool, with prices hitting recent lows. A quiet recovery follows as offerings thin and shorts cover, suggesting improved tone once weaker speculators exit. The upcoming gunners' report is expected to boost momentum and lift option prices. Close tonight 14 to 16 points lower.
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Naval Stores Market Reports Across Cities
Savannah turpentine steady at 65 with sales 100 receipts 390 shipments 1 627 while rosin finishes at 2 426 sales 1 788 shipments 14 662. New Orleans and Wilmington note firm spirits turpentine and rosin with varied receipts. Charleston reports no activity in turpentine and rosin.
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Market quotes show mixed lead and foundry prices
Serene area lead holds at 60.65.95 dollars per unit while London land warrants rise to 17 pounds 10 shillings. Locally firm with No. 1 northern foundry at 19.25, No. 2 northern at 18.25, No. 1 southern at 18.501, and No. 2 southern at 18.15.
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