Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-01-26
CUBAN CROP IS
A PRICE FACTOR,
SAYS JOURNAL

Price fluctuations in sugar, notice
able here within the past few weeks,
is largely due to the influences OF the
Cuban crop. II would appear from the
latest willett & Gray journal Tn
der date of January IA the journal
thus summarizes the trade situation:
RAWS-The changes In quotations
for 90 degrees centrifugals during
the week under review have been
from 4.11e per h., duty paid. on
Thursday to 404c on Monday, and re-
naming unchanged since except as
to one purchase Wednesday at allie,
for immediate use, by the National.
and followed by sales of some 10000
bags Cubas for prompt and January
clarence at 3 1-32c (4.04cl. ~. ~
The market conditions have been
entirely influenced by Cuban weather
and as advices received
daily from Cuba reported rainy or
unsettled conditions, holders advanc-
ed their views until 3 1-Sc c. & I.
(414c) was asked for nearby sugars.
This price was not obtained, but in
instances $3.50 c. & +. t4.11cD was
paid. 81
The other January positions were
based on the time of clearance from
Cuba; the earlier the date the more
was asked. ~
However, improved weather condi-
tons in Cuba at the close caused gen.
orally easier conditions, with the re-
suit that the 10000 bags noted above
was placed at 3 1-32c c. & I. (4.04c),
at which we quote spots.
Practically all refiners participated
in the buying. showing a confidence
in January values while not taking an
interest in February or other months
at the same basis. z-..... T.. II.
p The lack of demand for later than
January shipment comes from the evil
IDENTIFY delayed but still expected reac-
ton in prices to the lowest limits Of
the campaign, produced by the usual
increased production from January to
March.
1t Is indeed rare year when values
of Cuba sugar are able to be main
IdAhCu do AON Jdludf anu IL ID ny
no means certain that this season is
to- be exceptional in this respect; in
fact, as the week closes there are
indications that the usual reduction
in values Is about to take place.
AS to the extent of such reduction,
there are certain features to be con-
sidered which may bring it within
limits of previous years, such as the
amount sold and waiting shipment to
the United Kingdom, which quantity.
however, appears to be now within
control of shippers without delay.
An element of interest to the Cuban
planter is the difficulty of obtaining
transportation at rates of freight rul-
ing in previous years. A decided In
crease in cost and freight values may
come from this cause and give the
planters less net prices. Still the
margin is sufficient to not materially
interfere with shipments.
February shipments can be had
probably at 15-16c c. & I. (3.95c),
but thus far buyers limit purchases
to January deliveries, sentiment thus
far being towards lower basis for
February-March sugar.
We are not influenced by recent re-
ports of rains and reduced sugar con;
tent of the cane to change our Cuba
crop estimate from 100000 tons. Mr..
Himely, however, has considered
these conditions as indicating reduc-
tion of 100000 to 10000 tons from
his estimate of 2,664,286 tons. We
consider 1t too early in crop season to
say that present drawbacks may not
be fully recovered later on under ia
vorabIe weather conditions.
Philippine Islands cable reports SUI
gars, SO degrees test, are held at 3.75c,
against value here Of 3.20c. per h.,
and hence for the present these sugars
are likely to go elsewhere than to
the United States.
Atlantic port figures for the week
are: Receipts, 1883 tons, melting
40, 900 tons, stock 116,747 stons, a de-
crease Of 20,142 tons.
Total stocks in the United States
and Cuba together have increased
slightly and are now 241,216 tons,
against 235, 1892 tons lost week.
Our cable herewith from Java shows
10000 tons exports to Europe in De-
cember and $4,000 tons elsewhere.
Details of exports from Java and
Russia by mail are of interest as we'll
as other full information in this issue
Latest advices from Louisiana re-
port that the final outturn of the crop
is now expected to reach 165, 900 tons.
Business in Louisiana refining grades
is more active than at any time this
season, some $4,000 bags being sold
to local independent refiners at &C,
basis So degrees, delivered New Or
leans
At the close the market is steady
at present prices.
A cable received by US today from
our regular Havana correspondent
reads: "125 Centra1s working; wealth
er fine; cold north wind"
n 81 z -