Cotton Advances on Covering After Morning Pullback
New York May 2 There was further liquidation in the cotton market but less active selling after yesterday’s sensational break. Prices fell then rallied on covering and rain in the central belt, closing near the day’s best with a net gain of 4 to 16 points. Reports of unsettled weather in the west and rains in central sections supported late gains. Spot cotton was quiet with steady to slightly higher prices for various grades.
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New York
Yesterdas
Liverpool
Reaction Bts
Unicaue
Cabies
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Yenerda
Local Stocks and Roads Market News May 2
The cotton market opened weak with heavy selling by small traders but private reports of rain in Alabama spurred a late rally. July fell to 109.5 and October to 116.2, then recovered. the close was about 1 dollar above the bottom and 12 points higher than yesterday. Weather could drive further gains or fades in the next 48 hours. Sugar and molasses markets in New York were quiet with raw sugar firm at 89 test in Musso voto, 96 test for centrifugal, refined sugar steady, molasses price noted.
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John F. Black & Co
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Alabama
London
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Cross
Stock Favorites Were Very Active in Dull Session
New York May 2 The stock market opened dull though generally firm with limited public interest. Reading and United States Steel led activity while Amerikan Can surged higher than before. Reading rose to 111 7 8 aided by a short squeeze. Lehigh Valley and steel shares showed partial recovery. American Tobacco and Liggett and Myers declined amid Senate tobacco review talk. The day featured weak broader participation, with steel showing strength late in the session as reports suggested further gains in finished products. Bond market steadied and yields little changed.
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Wheat Declines Amid Delivery Lags in Chicago Markets
In Chicago on May 2 wheat slumped as lack of delivery orders weighed on the market. July traded around 1.10 to 1.11 per bushel with several price declines noted. Corn followed, pressured by weak eastern demand and anticipated Argentine shipments. cash quotes for wheat and corn varied across grades, while futures showed mixed movement.
Financial Market Snapshot May Day Trading Mixed Prices
U S bonds stocks and money markets show steady to firmer tones with Treasury balance at 125.2 million and a 12.7 million year deficit. London and Berlin report reserve and currency shifts while commodities including copper and tin fluctuate, and London and New York exchange rates remain near steady levels.
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Mon Xf Lind Exchange
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New Orleans Cotton Movement Shows Large Monthly Increase
Secretary Hester reports April movement of the cotton crop to close of April with substantial year over year gains. Across United States ports receipts total 11,444,818 bales. northern mills and Canada receive 881,520 bales. southern mills take 2,155,000 bales. interior stocks 282,822 bales. Northern spinners bought 291,911 bales in April, totaling 2,102,070 for eight months. Foreign exports for the eight-month season reach 9,705,437 bales. Stocks on hand and markets show 15,001,132 bales brought to sight by eight months. Liverpool market reports declines with various price levels and daily sales around 12,000 bales.
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Hester
United States
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Rice Receipts and Mining Stocks Reported May Day Markets
Rice receipts show 320 pockets clean 9 rough no sales. In New Orleans on May 2 reports mention Arizona Commercial, 3 13 16 talume and Arizona 72 Greene Cananea eight ty. North Butte lists 29. Market notes include mining stock references and price-like figures without clear transactions.
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Arizona Commercial
Talume
Arizona
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Ty North Butte
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