Sharp Break in Cotton Market Amid Government Report
News from New Yorks Financial Chronicle dated November 10 reports a sharp break in cotton prices after the government condition report, with a brief late recovery. Spillover effects included New Orleans and Liverpool markets showing volatility as wet weather affected crop prospects and trading.
MENTIONED IN THIS ARTICLE
New York
Mdd
Imuarker
Liverpool
Hosares
Stooks and Bonds and Cotton Market Highlights Cross Nations
Financials show a broad mix of securities with varied yields and a heavy listing of railroad and utility bonds. Secretary Hester notes a robust visible supply and steady movement of cotton, with inventories, bank deposits, and leather goods markets remaining strong amid higher lumber prices and car-delivery delays.
Wheat weak and sharply lower in Chicago trade
Chicago markets opened with May wheat down to 88 1/2 cents, then slid to 84 to 89 1/2 cent range amid heavy selling. Argentinian shipments and favorable crop signals kept bears active. receipts rose at Minneapolis Duluth and Winnipeg, while corn and oats also fell. Provisions stayed quiet as lard and ribs declined with overall market weakness.
MENTIONED IN THIS ARTICLE
Chicago
Argentina
Hears
South American Republic
Minneapolis
Duluth
Winnipeg
United States
May
Heavin
Curn Sa
Takings of American Cotton by Spinners of the World
New Orleans reports show round numbers for American cotton takings by spinners worldwide. This week 309 000, this year 2 ? averages. northern spinners and Canada 560 000, southern spinners 536 000, foreign spinners 1 316 000, with prior year figures for comparison. Secretary Hester notes the world-wide visible supply as of November 10 and compares it with last week and previous years.
MENTIONED IN THIS ARTICLE
Hester
New Orleans
Son
Besa
Eorthern Mills
Java
Canada
Mills
North
South
Sea
Egypt
Brazil
India
African
Europe
United States
Rumors and partial data drive fluctuations in European demand
A bureau report showing 68.8 prompts suspicion of softening ahead of a European buying pause after a month of small crop estimates. Despite a brief rebound from an active buying surge led by those with small crops, a slow decline is likely as the market absorbs the report and adjusts. Cables indicate Tulverport and New York may see further declines.
MENTIONED IN THIS ARTICLE
New York
Agricultural Department
Isa
Giles
Georgia
Carolinas
Theodore H. Prick
Shearson, Hamewill & Co
Atlanta
Rer
Priess Bachel
Tomorre
Prvetti
Santher Oalg
Suverior iv
Votton
Bureau
Europe
Inwest
Tulverponl
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E Re
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Minn
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Si Het Aleld
GIBES
Brera S
Au PO
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Falin
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Fagan
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Wm. L. Fuer
BOR
Maddor
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J.T. Holleman
J. W. Andrews
Sec
W.L. Kemp
Treas
J.S. Todd, Jr. Cash
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Bell Phone
Gould Building
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Siedenburg & Co
North Broad Street
Moupire
J.B Cheatham
New York Cotton Exchange
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Robinson-Humphrey Co
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Fourth Nat
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Investment Securities
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Augusta, GA
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Wader State Supervision
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George “. Srown
Sosefi
A. McCord
E. Boston
Josaph A. McCorg
Wootarneth Braytas
E Brown
Toa Law
Georges M. Brown
Scumn Bread Street
Wer A