Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1910-05-18
SUGAR MARKET
OF The WORLD
Drought In Cuba May
Decrease Next Years
Crop

Effect of the present drouth on the
Cuban sugar crop of next year Is al.
ready being discounted in the sugar
market aud serves to assure good
prices for next year. Willett & Gray's
Sugar Journal for May deals with
/ the situation as follows:
1 Visible supply.-Total stock Of Eu.
rope and America. 29N1 552 tons
against 1928 sol tons lpst.year at the
same uneven dates. The decrease of
stock is S32.249 tons. against a de-
crease of 1928 l5 last week. Total
stocks and ahoats together show a Wis
ible supply of 3.O24,552 tons against
3Sii.S0l tons last year, or decrease
+ OF 32O2i9 tons.
Rsws.-The European markets con.
| tinue to govern the course Of the sug.
ar markets generally The upward
turn of prompt beet sugar from l4s.
per cwt. f. q. b. Hamburg continued
, during the week under review. the
close being at 1is. 1Ohd. the highest
point Of the current campaign. Aug.
ust beets. the closing delivery of the
present beet crop season Is quoted at
lbs. ND, which will probably look
cheap before that time comes.
II Is possible that some of our re.
finers see this prospect and have Sc
cured during the week some of the
Java crop for July shipment (Septem-
Der ARRIVAL at basis of 13s. I'D. c.
and T.. equal to 460c. per pound land
1 ed against cost Of 5i9c. per pound
I for August beets (Scptember ARRIVAL.
Our refners have availed themselves
OF the absence of European buyers In
Cuba TO secure Just as large n guam
tity Of centrifugals as was practicable
without advancing prices too much.
I We estimate that $4,000 tons covers
I the business. and this amount was Sc.
cured at from 4,24c. per pound tn
1900. spot basis. with late May aud
June shipments at basis of &c, 3 lac.
and 3 1-16c. G. and {. finally for June
t4.i2c. landed.
The latest offerings OF Java sugar
for July-August shipment are at 13s.
Sd. per cwt. C. and {. H.36c. landed.
Cuba seems finally to have reached
the point where selling is become less
urgent, especially for the future
months. Our analysis of the Cuba
crop to date shows estimated produc-
ton to May Sd of 1881. 900 tons.
against last year same time l,2l0,OO0
tons.
II this excess be added to the total
, crop figure OF last year II would make
this years crop 1,6Si5S2 tons. The
receipts of $4,000 tons at six ports
Cuba indicate large stocks still at
plantations: 81 estates stopped grind.
ing this week; rs, 2S 10, IL, indi.
cate the rate of closing last year for
the corresponding next Ave weeks of
this year.
We must take notice OF the effect OF
the drought in Cuba on the next crop.
Although there Is time Tor the recup.
Grafton of the cane already planted
yet the serious situation al the mo.
ment Is that the usual paintings at just
this period cannot be made. No doubt
the European spectators In the next
beet crop contracts will soon recog-
nize this feature of the future as a
bull argument, which II. undoubtedly
Is. considering The moderate increase
of sOwings for the next European beet
crop.
We have no sugar exchange here
Except locally in New Orleans) and
hence but few sugar spectators here.
The much higher basis of values In
the European sugar exchanges dis
courages our sometime spectators
from participating In future contracts
over there, as has been customary In
times past, although II is pretty evil
dent already that such contracts for
August. September and October deliv.