The Washington herald., 1922-02-15
BRISK DEMAND FOR
COTTON CONTRACTS
ALL GRAINS GAIN
Renewed Strength at
Liverpool Claims the
Interest of Traders. ].
July GRAIN STRONG


y ~
much better demand for cotton
contracts In this market today than
for some time past. Although trade
reports continued quiet and there
was as much discussion as
thtouehout last week concerninr
the disturbed labor conditions
among the New England miiis rem
orally. more attention was paid to
the renewed strength the Liverpool
market developed during our hoii-
day Yesterday and also to the local
markets strong technical specula-
tive position. As the. buying con-
tinued through midday. and into ths
early afternoon prices kept ON
gradually creeping UP until shortly
after 2:l5 o'clock a maximum ad-
vance Of about 40 points was
shown for the general list from
Saturdays final quotations.
This brought March contracts up
to 17S cents. May to about I7n
and July to nearly II cents. NJ,
against 1910 for October Of the new
crop. The market had been show
Ing signs OF a hoidout and over
sold condition during the greater
part Of last week. So that today,
good, further recovery in the price
was really not sorprisine, despite
the continued unfavorabIe labor re-
ports from the New England mill
ing centers.
The market continued fru,
through the late trading with many
shorts endeayoring to cover, but
hnding the market getting away
from them. The days export clear
ances were 2s.522 bales. including
l2,0eo bales to Great Britain and
1900 to the continent. Southern
spot markets were firmer and up 20
to 30 points on the day TIL. Liver.
pool market closed firm at the ton
at 32 to % English points net ad-
vance on the day. from their clos
ing prices OF last Friday against
the advance Of but 12 to Is that was
due TO have met our closing prices
of last Saturday.
The Census Bureaus report. on
American mill consumption for the
month Of January was buIlish. II
made the amount consumed without
linters 526.552 bales against 51l, 500
In December and 3ss.4s3 In January
last year. with the total export
clearances OF cotton for the month
OF January 475,s1o bales against
$4,000 in December and sos. .ooo last
January =,
Furnished by W. b. Hisb, Company,
safdys
Open. High. Low. Close. Close.
March l7.43 i7.ss 17.ss 1T.sa I7.a
May go. I7.2o l7.55 I7.os I7.5i II,oo
July 80. 1883 1890 1858 1885 Ie 50
october, 1875 1850 1914 1871 1a.so
Grains.
CHICAGO. Feb. 1.-THE July de-
liveries of all grain sold at new
high on the crop at the opening
today as the result Of a rush of
buying on the material upturn in
foreign and Canadian markets yes
terday when Chicago was closed.
Wheat was up 4aa6Is cents: corn.
Sa2k cents and oats kaH cents at
the opening with heavy covering on
stop-loss orders a feature. Above
$1.3s for May wheat there was per-
sistent selling by strong commits
sion houses that usually act for
leading New York traders which ul-
timately made a reaction, but on
the breaks there was a good class of
buying and at no time were prices
as low as Saturdays finish. At the
high May wheat sold at s1.seIS
or 36k cents above the recent low
while July touched s123, up 25K
from the bottom. Liverpool finished
4&a6h cents higher than Satur-
days finish. Export sales of SOC. 200
bushels Manitobas were reported on
Monday. Milling demand for cash
wheat Is fair with Eastern and
Southeastern mills \ taking grain
from Omaha. Crop reports from the
Southwest continue unfavorabie
with practically 70 moisture where
It is most needed. Messages from
the seaboard indicated that export
sales of wheat over the holiday
were larger than reported and that
exporters were waiting for a set
back in futures in order to remove
hedges. y
Receipts of around 2,1eo cars of
corn, had little effect on futures
and induced selling after the early
bulge. but there was good buying
on the setbacks. Rasis in the
sample market was Iia1 cent,
lower with. No. 9 grades 5ka6 under
May. Sales for export at the sea-
board Monday were estimated at
500, 200 to 1000, 600 bushels and TO-
900 bushels Of oats were also sold.
Basis of spot was y cents lower
as compared with May. os@
;, Provisions averaged higher with
hogs and grains Hogs were 1p. 10
ais cents as compared with Mon