COMMODITY MARKETS.

Manawatu Standard, Volume LVIII, Issue 77, 28 February 1938, Page 4

COMMODITY MARKETS.

COPRA ADVANCES. LONDON, Feb. 26. A promising week for commodities has petered Out rather badly, although prices are a trifle higher on balance, with cotton an outstanding- feature owing to heavy reductions in the acreage in the United States as a certain result from the complicated Farm Bill, Farmers ■in America are reported to be holding on to the raw material in the belief that prices, will go higher. ' Metals rather lamely attempted to improve. The United States refined copper stocks are still rising;, as also are American stocks of lead, which have increased by more than 4000 tons, despite a sharp'drop in domestic production. . Friday’s closing prices for raw materials were as follow, those for February 18 being shown in parentheses : Cotton. —Liverpool quotation, good American middling, spot, 5.21 d pei lb (5.16 d); April delivery,. s,lid pellb (o.OSd). , „ .. Rubber—Para. 6d per plantation smoked ribbed sheet, / o-lod (7 1-16 d). Copra.—Mareh-Apnl shipment, sundried South Sea, to London or Rotterdam, £ll 5s a. ton (£11); smoked to Marseilles or (£lO 12s 6d); plantation. Batumi to London or Rotterdam, £l2 5s a ton (£ll 15s). , ; . _ Jute. —March-April shipment, Indian jute, Dundee quotation, £lB Us 3d a ton (same). Linseed oil. —£30 a ton (same). : 9d per cwt -. <- 31s 6d).