Cotton market lifts as New York and New Orleans trade gains
In New York on June 9 the cotton market opened firm with advances of 4 to 7 points amid bullish sentiment and investment buying. The South added new crop months while private cables note demand rises in most southern markets. Week review cites favorable weather and dwindling receipts supporting strength, though Liverpools scare persists. New Orleans reports steady to higher tones with 999 bales of uplands sold and prices trading above junes. Liverpool shows initial gains then declines as selling pressure grows. Crude details of across ports reflect varied activity with continued cautious optimism about a late harvest.
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Wall Street Ends Mixed After Bank Statement Signals Shifts
New York stocks moved little at first before a late weakness as a bank statement showed reserves rise unexpectedly. Traders noted large loan expansions and corporate moves, with United States Steel and Union Pacific among leaders, while gains faded and overall indices slipped below last night’s close.
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Cotton futures rally fades as weather outlook weighs
Long cotton holders see profits erode as rains across the cotton belt lift selling pressure. Futures in New York opened higher on short covering and strong overseas demand but closed with gains up to about 6 points. Market participants note a weather market leaning on crop conditions, with prices easing from daily highs as buying cooled.
Market Decline Amid Broad Slack in New York Trade
In a dull session New York stocks drifted lower with American shares generally weak. A few sales arose in anticipation of the coming settlement while brokers noted unsettled conditions and a cautious tone across major markets.
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Market Notes From New York and Atlanta Trade
Market digest reports soft prices for meats fruits and vegetables with mixed demand across regions. Poultry potatoes peaches and watermelons show steady to rising prices while citrus and pears move slowly. farmers face favorable weather in parts but rains hamper some crops. wheat corn and cotton show volatile movements amid forecasts and government reports.
Chicago Market Reviewed Wheat and Grain Prices Mixed
The Chicago wheat market closed firm with July wheat up to 73 thirds higher while July corn eased and July oats were unchanged. Rainy conditions in Arkansas and Oklahoma spurred selling pressure but improving crop prospects supported prices. Kansas rains raised questions about harvesting while reports of strong fanart receipts and steady demand capped losses.
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Weather Summary for Saturday and Sunday
Weather forecasts across multiple states show showers and warmer trends. Northern regions expect showers Sunday, while southern areas may see lighter rain and southerly winds. Temperatures remain near normal with a few locales noting rising afternoon highs.
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