New York, May 26.
The cotton market early advanced on steady Bombay and Liverpool cables and new buying and covering, whilst the final steadiness of May position helped to bolster sentiment. Later, on trade buying and covering, the market further improved, with quotations closing from no change to 12 points up, compared with yesterday's close.
"Rubber prices moved up on good buying and covering on the announcement of the International Rubber Regulation Committee's decision io raise the quota for the third quarter of this year by five per cent. ak to 56 per cent, being favourably received. Sellers were reserved. Final quotations ranged from 20. to 23 points above the previous final levels.
Trading in wheat futures on the Chicago Board of Trade was a weather affair. Reports of rains and forecasts of further precipitation brought about liquidation and selling under which prices declined, and closing changes showed losses ranging from 1 to 1% cents from yesterday.
New Yosk Rubber July 1648-10 +23 Sept. 1610-12 +20
T66-70 +02 B/A.
166 N +01 Dec. 1519-13 +20 182-02 unc. Mar. 1614 N 420
Text read from the printed page and cleaned; old type leaves the occasional error.