New York, May 19.
Steady conditions prevailed at the opening of the cotton market today, with quotations ruling from unchanged to 8 points down from Saturday's close. The market early declined on an accumulation of hedges, commission house liquidation, announcement that the combed yarn ceiling would be li under present prices and nervousness regarding the na] disposition of the Loan Bill. Later, prices rallied sharply on the statement of Mr. Claude Wickard, in-timoting that President Roosevelt would approve the 85 per cent. parity Loan Bill, Local covering and outside buying easily absorbed scale-up spot house selling against equities. Finally, the market reacted on more active hedging and realizing but closed steady, with quotations rang-ini m 1 to 5 points down.
Prices in the rubber market today slumped on lower London cables. a slackening of factory demand, liquidation and hedge selling At the close, losses of 20 to 46 points were recorded, Wheat futures in Chicago today touched new seasonal highs in late dealings on the revival of speculative and commercial buying, which was touched-off by the remarks of Mr. Claude Wickard that President Roo: velt favours the attainment of parity levels for basic crops this year. At the final bell, gains of 2 cents were registered.
New York Cotton New York Rubber July 2389-90—46 Sept. 22 60-60—20 Dee. 2310-10—6
Mar N. Y. Sugar No, 3 N. Y, Sugar No, 4 242-44 July 0.84.85 unch.
B/A B/A
Sept, 246-47—2 Sept. 091-9113 une.
B/A By.
Text read from the printed page and cleaned; old type leaves the occasional error.