The Hawaiian gazette., 1910-04-05
The Sugar Market
NEW YORK sueAR MARKHT.


willott & Gray's journal, March II.
Quotations for raws remain unchang.
ed during the week under review. Buy
ers here have renamed indifferent and
the Cuba market has boen left almost
entirely in the hands Of European buy
ers, who still maintain confidence in
the situation sufficient for paying rela-
lively higher prices than our refners
Except in instances) are willing to pay.
Our rehners are well supplied with the
same dates Of shipments as are now on
offer and sellers do not incline to sell
more distant sugar.
European buyers have taken 100000
bags Cubas mostly on +. o. b. Cuba
terms, for shipment to the United King
dom, while our buyers report only 25,-
600 bags for the week. The United
Kingdom purchases were at 2.96c per
pound f. o. b. for 10000 to $4,000 bags,
and &c +. @. ID. for 10000 bags.
Our refners took 10000 bags April
at 3 1.16c c. & f. At the close, offers
to sell include nearby al 1890 c. & f.
and March-April at Lice G. g. +. to
extent of 100000 bags to 100000 bags.
European beet sugar closes steady,
with light offerings at lbs. 634d. for
all months to May, inclusive, showing
only Bad. fuctuation for the week and
closing full-up.
From Cuba, reports are that the
drought continues, one central stopped
grinding, receipts fell on 1000 tons
and stocks increased to $4,000 tons,
which, with United States stocks of
24s,593 tons, gives together 563,593
tons, against 49s,s35 tons last year.
We are not looking for Messrs.
Guma. Meier Is revised crop estimate as
long as the drought continues, but in
the mean time our special returns show
us that such reduction will likely be
to the level Of our original and present
estimates of 100000 ions. We have
no statistics to show a probable lower
production OF any material amount.
A considerable business has. been
done in java sugar for the United
Kingdom, but one cargo only is re-
ported TO the United States.
The European statistical position, las
given in our issue of February IL, has
not improved, but up to date the figures
available show increased exports and
increased consumption over last year
without corresponding increased i'm
ports.
Russia seems also to he holding back
her crop for. home consumption.
AT the close our rehneTs are out of
the market in competition with Europe
for Cuba sugar until business is re-
vived in the refined product, which can
not come until Withdrawals under old
contracts are exhausted Notwithstand-
ing Cuba centrifugals are now rs cents
per 100 pounds below parity of beet
j sugar; against only 20 cents per 100
| pounds last year, the immediate wants
of refners are well satisfied, and their
policy of not assuming Speculative
position is likely to CONTINUED this large
parity difference for thirty days at
least, thus giving European buyers the
market for Cubas during sueh time.
Whenever the outturn Cuba crop be-
comes more definitely fixed, more con-
sideration will be given by our re-
fners, to its limit of supplies for re-
mainder of campaign, and as to how
much more of the crop can be spared
for the United Kingdom before the
parity difference begins to contract.
AT the close Porto Rico centrfngals
afioat were sold at current spot quota
tion, basis 4.S6c. for go test. FL
Refined ~,
There is no change in price or CON
ditions. All reiners urge buyers to
make Withdrawals under old contracts
as fast as possible, but the country is
/ full OF refined and time must elapse
before new business becomes prom
inent at 5.25e. less lgo, the firm price
for graduated by all refners.
All refners are somewhat behind on
shipments, especially on assorted or
ders.
Domestic beet graduated is firm on
! the basis of 5.15c. less 1e5.
Willett & Gray 3 journal, March 10.
The market for the week under re.
view has been slightly reactionary, es,
pecially at the close, when Cuba cen.
trifugals for prompt and March ship
ment sold at &c. c. & +. and April at
3 1.32c. c. d f., against 31-16c. earlier
in the week. Europe also has reacted
from the highest level of prices of this
campaign, say las. 6l4d. on the 9th
to las. 41ad. at the close for beet sn.
gar but is los. 11ad. for Java cane,
against los. 3D., the highest point.
The reaction appears to be only a
speculative incident of the manipula.
ton for higher prices. Spot centrifu.
gals closed last week at 4.39c., ad.
vaneed TO 4.42c. and closed at 4.36c.
per pound for 96s test.
Sales Of the week included $4,000
bags Cnba centrifugals at &c. fob.
| equal TO 3.09c. G. & 4. New York;,
destined for the United Kingdom by
European operators, who outbid buyers