Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-07-01
Cotton Gossip

-Picayune says: Yesterdays advance
! was largely based ON the changed technical
position due to the recent liquidation of long
interests and the creation of good short
interest. The heavy discounts of futures
compared with spots rendered the position
of shorts seeking to cover rather unfavora-
ble,y This was particularly true with re-
spect to the July month. 1t was sold SO
freely last week. With that position now
within a month of final termination, nearly
400 points below the level of spot middling,
there existed a strong chance of squeeze
of shorts, particularly in the northern mar
ket. 1t was not surprising, therefore, that
the discount was cut down by fully hun
bred points during yesterdays trading,
bringing July to within 275 points of spots.
While private condition reports continue
to indicate a good improvement In the
crop during the past month, acreage 1ndl-
cations still point to the same area planted
in cotton, possibly a trifle less than
was the case last year. With the govern
ment report due on Friday, the remaining
session of the present week will no doubt
be largely devoted to anticipating the Of
fetal acreage and condition reports and
evening up of commitments in advance.
The Journal of Commerce says: In Ala
bama present indications are for pro-
nounced increase in percentage conditions
over a month ago. They were Gil in Mis-
sissippi. The indication is for only a
slight gain over last months condition of
67.7. Prospects as to damage from the boil
weeyil are undeniably bad. In Louisiana
the outlook is that the percentage figure Of
~ will be exceeded by several points. There
is almost universal complaint of boil weevil.
Clevenburg says: Liverpool 1915 p. m.
prices show October 10 and December IL
American points below parity. Spot sales,
5000 middling, equivalent to 52.90c. Spots
in the south unchanged to so points higher;
range, 39c to 41.50c. Generally fair wealth
err is forecasted for the belt except scat
MI uI1lf CT
Journal of Commerce special reports show
considerable improvement in Alabama, not so
much in Mississippi and Louisiana. The
course of prices today will be governed by
the action of July, which appears to be in
a very tight position. If southern interests,
as reported, are long 10000 to 10000 bales
and demand the cotton, July might go to
an unprecedented premium over October.
Scant rainfall reported in southern Louis
lana and Amarillo districts otherwise gener-
ally fair weather prevailed thrughut the
entire belt, with temperatures gener-
ally about normal as whole: the western
day for the entire belt is generally fair, ex-
cept Louisiana and Texas coast, partly
cloudy.
Forecast-virgnia: Fair tonight; Wednes-
day partly cloudy, probably thundershowers,
and not quite so warm in north portion.
Tennessee, Kentucky: Warm, and probably
fair tonight and Wednesday
North Carolina, South Carolina, Georgia.
Alabama, Mississippi, extreme northwest
Florida, Florida: Generally fair tonight and
Wednesday.
Louisiana: Tonight fair; Wednesday fair
in north, partly cloudy in south portion.
Arkansas: Tonight and Wednesday fair.
Oklahoma: Tonight and Wednesday gener-
ally fair.
East Texas: Tonight and Wednesday gen
orally fair except somewhat unsettled near
the coast.
West Texas: Tonight and wednesday gen
erallY fair.