[Herman Lurie's Weekly Report, March 11, 1955] Page: 1 of 2
[1] p. ; 28 cm.View a full description of this report.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
4-53 IM 63757
FROM HERMAN LUR
TO Sugar Land & Galveston
COPIES TO
SUBJECT Market Letter
VIA NEW YORK CITY March 11, 1955
There was no change in the declining pattern of the raw market tris week.
Eastern refiners, apparently unmindful of the inordinate spread between raws
and refined in their section of the country, just relaxed until sellers weakened
with the result that the spot price declined another five points to 5.SQ#.$ n fact,
the decline may even continue from this point for there still are soe ay
Philippines that they say they can't use. Unfortunately, these sugars are not
available to Southern refiners, who, except in rare instances, have been forced
to pay premiums for strongly held Cuban sugars. Reported sales to Eastern
refiners consist of about 35,000 tons March/April arrival San Domingoes, Cubas,
Philippines and Puerto Ricos, first at 5.85#, then at 5.82 and finally at 5.800.
The market has a slightly better tone at the close for 2pa operators paid 5.831
for 7,0u tons late April arrival Philippines (for which refiners were unwilling to
pay better than 5.80#),and 5.900 for 5,000 tons mid-May arrival Philippines.
Reported sales to Southern refiners consist of 8,500 tons Cubas and Puerto Ei os
for March/April arrival at 5.800 to 5.851, the latter price being equivalent bout
5.890 New York basis.
Distribution is showing improvement, the figure for the week ending March 5th being
144,005 tons against 131,89 tons for the week ending February 26th and 132,973
tons during the corresponding week last year. Cumulative figures to date are
1,214,000 and 1,190,000 tons for IfiMMAN 1955 and 1954 respectively.
The world market was a beehive of activity this week. The Cuban Institute sold
240,0J0 tons raws,ta mainly to two operators at 3.1528# fas, a great portion of which
is believed to have been a covering operation against prior sales abroad. Other
Cuban sales consist of two cargoes to Sweden and one cargo to India at 3.16/3.170 fas.
Brazil sola three cargoes of whites to Pakistan, 10,000 tons whites to Ecuador and
a parcel of rawes to Holland and Ecuador also bought 10,500 tons wkikw refined from
Colombia and Peru. And finally, to top off the week , Russia bought two cargoes
of Mexican whites and a cargo of British refined.
Filet Lurie's Weekly Report
Cons
Upcoming Pages
Here’s what’s next.
Search Inside
This report can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Report.
Lurie, Herman. [Herman Lurie's Weekly Report, March 11, 1955], report, March 11, 1955; (https://texashistory.unt.edu/ark:/67531/metapth1183009/m1/1/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Rosenberg Library.