New York, June 24.
Trading was fairly active in the cotton market, with prices early advancing on Liverpool cables, some foreign buying, renewed commission house and trade buying prompted by the strength of securities and further large sales of textiles. However, the higher level attracted increased realizing and some foreign domestic hedging. El market steadied up on coven closing quotations ranging from to 9 points up from the previous final level After early easing on July liquid tion and commission hous taking profits, the rubber market staged a rally to new high levels, owing to the strength of stocks, aggressive trade covering and good dealer absorption. At the last call-over, gains from 34 to 36 points were recorded.
In the Chicago wheat Pit today, helpful rains in the spring wheat belt and favourable harvesting weather in the south-west more than offset the upturn in securities and better Liverpool cables, while prospects of a material expansion in crop movement, forecast of showers in the north-west. and beneficial rains it Australia were unsettling factors. At the final bell, there was no change in values compared with yesterday.
Traders were generally awaiting new developments in the sugar market, with foreign buying and covering in evidence, owing to steady London advices. Offerings were light At the end of the day's trading, quotations were from a point down to 1 point up from the previous day.
Despite disappointing Japanese cables, silk prices advanced substantially today on the buoyancy of securities, shorts covering, a fresh speculative, commission house and Japanese demand and hedge lifting against sales in the outside market, Offerings were limited. Later, the market reacted partially on trade realizing and importer selling. At the close, gains of about 2 cents were registered.
New York Cotton July Oct.
Dec.
Jan.
Text read from the printed page and cleaned; old type leaves the occasional error.