Cotton Market Opens Firm With Mixed New York Losses
New York and New Orleans reports show a firm to higher cotton market on June 24, aided by demand, bull support, and dry Texas weather. King Edward's illness and coronation delay caused intraday unease, but government crop news and overseas buying propelled prices, with August and January leading gains and totals around 125,000 bales.
MENTIONED IN THIS ARTICLE
New York
Liverpool
Edward
Texas
Wall Street
South
Europe
Hubbard Bros. & Co
Alabama
Tosland
Southern Exchange
Dry weather to ruin crops and rise in cotton prices
The report notes continued drought threatening crops with prices expected to rise, forecasting higher levels for Texas and other cotton regions. Receipts today were about 3,500, down from 9,260 last year, as A J B Marbury, Forecast Official, cites. Liverpool cotton exchange directors adjourned without action after meeting on coronation postponement.
MENTIONED IN THIS ARTICLE
Texas
Liverpool
Cotton Exchange
Cotton Market Fluctuates Amid Drought News and London Reports
New York June 24 cotton opened firm with prices little changed and rose on active shorts and foreign buying as drought reports from the southwestern belt supported demand. Later gains eased as bulls cautiousness rose from London news and profit taking set in, though spot demand persisted. Weekly weather and crop reports showed mixed conditions with drought in Texas and parts of Louisiana, and a tentative outlook for a near term crop, while New Orleans and New York desks cited favorable weather for most regions.
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Cotton Region
Atlanta
Ge Ad Ag
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Cle
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Rome
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Harry
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The
Weather Bureau
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St. Louis
Ward
Chicago
Cincinna
Wall Street Reacts to Coronation Postponement News
London and New York markets fall on rumors of the king’s illness and an apparent postponement of the coronation. Consols slip to about 95 percent. copper and Colorado Fuel stock weaken, while some issues show brief support as traders price in uncertain postwar conditions.
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Consola
Otst
Stock Exchange
New York
Wabash
Canadian Pacific
Chicago Great Western
United States Steel
Treasury
Australia
South Africa
O'Dell & Co
King Edward
Colorado
London
Seside
Chicago Markets Mixed on Board of Trade Amid Manipulation Fears
Chicago June 24. Markets on the board of trade were badly mixed with each pit varying. Manipulation blamed for irregular action and trader nervousness. July wheat and oats movements fluctuated while July corn advanced. Packers’ influence and outside selling shaped the day as prices rose and fell in a tight range. Receipts and futures ranged with notable activity in wheat corn oats and pork prices.
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Chicago
Board of Trade
Liverpool
Bradstreet's
Minneapolis
Duluth
Seaboard
Iowa
Nebraska
Riba
Shorts
Dricey
Hoge
Commiealon
Lava
O'Dell & Co
Emgland
Gala
Irregular movement in market cited across grains and oils
Early selling gave way to strength as weather forecasts turned supportive and funds covered. Wheat and corn futures rallied with rain prospects boosting demand while oats stayed firm amid cash market tightness. hogs and pork were pressured by profit taking but buyers emerged later, with regional price quotes steady to higher in New York and Chicago, highlighting mixed early action and firming closes.
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Murphy & Co
Chicago
Iowa
Nebraska
Cudahy
Rts
Iava
Nebraska There Was Selling of September By Armour and Commission Houses
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