The Archive · 1938

US. Commodities

Wednesday's Closing Quotations — New York, Dec

In the absence of any incentive, troders in the cotton market kept to the side-lines, awaiting the Bureau report tomorrow and the outcome of the Farmers' Referendum. Prices early advanced on Liverpool and Bombay cables end trade and commission house buying, but later reacted on liquidation. At the close, quotations were from 1 to 3 points up from the previous final levels.

Rubber prices continued the upward climb on demand credited to Japanese interests and commission house, which absorbed dealer offerings and profit-taking on the scale-up. Scme factory interest wes maintained. At the last call-over, gains from 14 to 19 points were registered Profit-taking and the heaviness of Winnipeg cables wiped out early rallies in the Chicago Wheat Pit. The larger estimate of the Argentine cran, with harvesting reported to be in full swing, more than offset deterioration reports from Kansas and the strength of corn and securities markets. Mills were fair buyers. At the final bell, losses of % cent. were recorded.

In the sugar market, owing to the firmness of London cables, trade and commission house buying absorbed offerings, liquidation and hedge-selling. At the end of the day's trading, quotations ranged from 1 to 1% points up from yesterday.

Text read from the printed page and cleaned; old type leaves the occasional error.

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