New York, June 16.
The cotton market early eased on Liverpool cables, moderate liquidation and foreign selling, but contracts were generally scarce. Later, prices rallied on trade buying of nears, commission house and Bombay buying of distants and Wall Street and Western buying, but then again partially eased on realizing. Finally, the market closed steady, with quotations ranging from 5 to 7-points up.
In the rubber market, primary offerings continue to be light and relatively high, but the undertone was generally steady on mixed trading and evening-up operations of July option. At the last call-over, gains of 2 to 7 points were recorded.
After advancing on heavy rains in the south-west furthering rust developments, coupled with liberal Government flour purchases, wheat prices in Chicago reacted on increased south-western hedge-selling, eastern profit-taking, prospects of more favourable weather in the winter wheat belt and a rather scanty foreign demand. At the final bell, losses of to % of a cent were registered The sugar market advanced on trade and local buying, shorts covering and steady London cables, but July option finally eased on liquidation. 231 notices will be issued tomorrow, which is about as expected.
At the close, quotations ranged from a % point down to 2 points up.
Prices in the silk market, strengthened today on dealer demand, a scarcity df offerings, the firmness of Japan and reports that mills have bought actuals. Moreover, the midmonth estimate of deliveries during June of 28000 to 30,000 bales is con-Sidered favourable. Closing quotations were from 2% to 4 cents up.
New York Cotton New York Rubber July 829-29 408 July 1216-20 +06 Oct. +05 B/A Dec. +06 Sept. 1226 mar +05 Jon. 1233 N Jan. +07 Dec, 1250-50
May +06
NeW York Sugar N
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