Cotton market opens steady declines amid irregular session
New York July 3 cotton prices show July and August futures weak with marked volatility. Old crop months slipped as longs sought exits while demand lagged. July sold around 12.69 to 13.90, August fluctuated 11.34 to 11.90, closing mixed. Bulls rallied late on expected improvements, then retreated as bureau data disappointed. Sales around 150000 bales. A train carrying 2000 bales arrived for delivery on July options.
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Cotton and Wheat Market Notes From July Trading
Market summaries note wheat decline in the northern spr region with favorable progress elsewhere and cotton showing uneven gains. Tobacco and apples show regional needs and promise while high heat affects prices. bureau noon report steadies the market as New York trade opens with mild gains and cautious optimism.
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Spot Cotton Markets in Detail and Grain Market Opening
The report details opening strength then heavy selling in wheat with prices closing down. Corn and oats fell, while provisions firmed. Receipts and supply signals, plus weather notes, influenced shifts. mixed futures activity followed early gains. Liverpool and Chicago grain letters describe weak closes amid rain hopes and bear sentiment.
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Official Range and Sales of Stocks and Cotton News
New Orleans market reports cotton spot demand and futures activity with prices fluctuating after a bullish bureau report. Commentary covers corn and winter wheat conditions, dry goods market tone, and weekly crop outlook from New York and Washington, noting rains and drought effects and anticipated crop prospects across the south and midwest.
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London Wool Market and U.S. Supplies Report
The July market shows little change in wool prices with sales of new territory wools at low 2c for fine and various regional quotes. U.S. price reports note increases in wheat and corn supplies, steady cattle and hog markets across Chicago, Kansas City, and St Louis, and mixed fruit and confection prices in Atlanta.
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Cothran and Co Stock Letter Advises Caution in Rail Stocks
In New York on July 3 trading opened strong with short covering and good investment buying. Afternoon selling followed as investors said the rise had been rapid. The letter favors taking reasonable returns and believes high grade dividend paying railroad stocks may rise on reaction but urges restraint.
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Cothran & Co
New York
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