Review of cotton and other markets
New York May 7 Cotton prices declined over the week except in May due to better weather in parts of Texas and Louisiana. Weather and weak speculation tempered activity. receipts remain large. Outlook points to possible renewed interest if conditions warrant. Sugar and rice markets show mixed signals with refiners anticipating a busy season as raw sugar prices ease. European crop conditions are unsettled, but demand remains steady. Honduras rice demand improves, while prospect for new crop rice remains cautious. In Chicago and New Orleans, merchants adjust positions amid favorable weather and potential acreage shifts. A new noon train to Birmingham starts May 10, enhancing regional transport.
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United States
Wheat futures rally after government crop report shocks Chicago pit
Chicago May 7 wheat futures surged as the government crop report boosted demand for deferred positions. December and September contracts posted sharp gains while July and May faded briefly, with overall day’s action marked by volatility. Front dates closed mixed as funds and cash buyers rebalanced, with prices near yesterday's levels and provisions rising late on tight supplies.
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Duluth
Y Ag
Market Report Mixed Copper Lead and Wool Prices Rise
The market remained mostly firm with local copper to £50 for pot and st £00 for futures in London. Copper, zinc, lead, and tin showed varied shifts while wool prices rose at London auctions amid strong demand from home and overseas buyers. Wool sales totaled about 19,016 with notable activity in New South Wales and Victoria.
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Market News From Kansas City And New York
A mixed commodities report shows cattle receipts at Kansas City with steady to higher bids for some grades while hogs and sheep receipts are sizable and generally steady. New York notes a dull but steady market for foreign news, expectations of heavier July sales, and improving statements on cotton futures amid rail and weather signals.
MENTIONED IN THIS ARTICLE
Andy Best
Kansas City
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