Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-08-09
MARKETS
NEW ORLEANS COTTON

NEW COTTON
NEW DREAMS. Aug. q. CAPD-As the
cotton market closed here today be-
fore the surprisingly large crop fore
cast by the government was issue it ma
unaffected by that report and waa
swRyed mainly by the process OF even-
ing up in advance on the report. THIS
forecast OF l5.584.000 bales astoniahed
traders as II as a million and q hale
bales larger than the general trade
expectation The indicated yield per
acre OF 1883 pounds was also considers
ed enormous
The market closed steady 10 minutes
before the bureau report showing neu
advances for the day or 1 TO . points.
Liverpool came In 3 TO q penny points
better than due n private cables
stated that shorts covered and thu
continent bought. Manchester cabled
that China bought cloth but that thu
home trade was disappointing. Ccto-
Der dropped TO sos and December to
$40 down. The close was nc the bot
tom showing a net gain OF 1 point for
the day on October and n net gain %
3 points on December.
NEW YORK COTTON
NEW YORK. Aug. 9. tAPD-Cotton
trading today consisted chiefly OF even
ing up on ccounts IN preparation for
the government crop report.
An early Advance on covering was fol-
lowed by partial reactions. December
contracts, after selling up to ga broke
to $50 and closed at 8.5l with the
general market closing steady az neu
advances or y 90 III points.
The crop report came after the close
OF the market here inc placed the Aug.
! condition at T49 and the indicated
yield ut l5,584.UOO bales. The trade wan
taken completely by surprise. aa tho
yield me about 100000 bales
above the average Of recent privats
crop reports.
The futures markets AZ liverpool and
New Orleans a. well as New York were
closed before the report was issued.
quick break of over On cent "a pound
when that market reopened after ths
figures were published.
Liverpool cables attributed the adj
vance there to covering. continental
buying and trade calling.
CHICAGO GRAIN
CHICAGO. Aug. S. APPROXIMATIONS
breaks IN cotton prices smashed ths
corn market down . cents m huHheL
today 70 the lowest level reached sincs
1902. Wheat and other grains also suf-
fered sudden sharp sethRcks owing fn
sympathy with corn. The collapse &C
cotton resulted from amazement Ayes
n report by the United States depart
ment OF agriculture estimating this
StAcCN COTTON crop AN HfmN@E N mll~
lion and N half more bales than trad
ers generally had expected.
Corn closed nervous mo virtually tha
days bottom level. 2 cents 70 z II
cents under yesterdays finish. when1
1 1-f-l 7-3 down. oats 3-8-T-8 orr. ana
provisions varying from q cents de-
cline 70 7 cents advance.
Wheat suffered m drop az 2 90 cent?
a bushel compared with the Gays top
point.
Some s~teadying influence ON wheat
was apparent because of liberal ex-
port business in North American whea5
overnight. 100000 bushels On more.
else was temporarily los sight OF.
though. after the fall on cotton and
corn.
Provisions reacted ZEN cotton and
with hog wales. alfhnirh retaining pare
on m advance that came from packers
Closing INDEFINITE o vheat-Sept. fT
Ia. 10 1850. Dec. SO 3-4-T-a. Sc 5-8-
81: Ma IS "a. AZ 1853. corn-4s 3-s.
ST. $3.50.