Market News Cotton futures rise on bullish demand
New York May 13 cotton market closed with a feverish uptick of 6 61 points on active months as outside buying, bullish sentiment, and renewed spot demand push prices higher. Spot markets in New Orleans steady shd Middling upswing, receipts at ports compare with last week, while dry weather and strong English demand bolster optimism despite some late profit taking.
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Wheat market slips as rain prospects dampen demand
Weather concerns in Kansas and nearby states spurred early selling while July futures opened at 1.12% and fell to 1.19% before stabilizing. Reports of crop damage and scarce local receipts helped curb gains as cash wheat showed mixed demand. bonds and Atlanta clearings also noted.
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Wheat and Cotton Markets Steady Amid Mixed Grain Outlook
The market notes steady wheat and oats figures with total clearances reaching 375,000 bushels and primary receipts at 301,000 bushels. Wool prices remain firm with Merinos steady except heavy sorts. Australian and New South Wales sales totalling thousands of bales. London stock market shows American securities largely unchanged with money rates steady.
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