Cotton opens firm on frost in eastern belt and futures
New York May 20 The cotton market opened firm on frost reports in four eastern districts and strong early demand. Prices rose about 11 points in early trade before easing. new crop months led gains while old crop months advanced 5 to 7 points. Liverpool and other markets showed steady to firm tone with mixed local activity and several bales moved to spinners. Receipts at ports totaled 2,083 bales for the day, with weekly totals around 78,000 bales.
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Wheat market ends near day high in May reports
May 10 Cheagu wheat market shows firm to higher closes with July up from open. Corn and oats advance, while provisions rise 12 to 22 cents. traders wait on government crop report then rally. Shipments and receipts vary. bulls gain from Argentina shipments and Northwest receipts influence.
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Cotton Market Opens Higher On Strong Demand
Cotton futures opened 2 to 6 cents higher as buyers showed activity in Liverpool and the eastern belt. Old crop sold to spinners with trade quiet. large cotton for sale around 10.80 in late October and December options. Market steadied after initial selling and rose modestly. Weather reports noted frost and potential damage affecting prices.
Cotton market stays buoyant amid frost fears and profit taking
The May option hit new highs while July touched prior peaks as bulls press on. Weather forecasts point to clearing, warmer conditions across the belt, with frost damage feared in eastern regions but not yet denting demand. Traders note heavy short interest, active selling to take profits, and ongoing accumulation as next crop months gain traction.
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Liverpool
Frost Damages Cotton Crop Across Belt East of Mississippi
New York May 10 The cotton crop across a large belt east of the Mississippi suffered frost damage last night, injuring about one third of the affected area and forcing replanting in many fields. Seed for planting rose 25 cents per bushel and labor shortages may prevent replanting, dashing hopes for a large next year unless conditions improve. The situation looms over a world need for at least 12,000,000 bales next year, with prices likely to advance. Theodore H. Price.
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Theodore H. Price
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