DTN Cotton Close: Stays Positive Despite Improving Crop
DTN Cotton Close: Stays Positive Despite Improving Crop

DTN Cotton Close: Stays Positive Despite Improving Crop

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Το περιεχόμενο του άρθρου δεν είναι διαθέσιμο στη γλώσσα που έχετε επιλέξει και ως εκ τούτου το εμφανίζουμε στην αυθεντική του εκδοχή. Μπορείτε να χρησιμοποιήσετε την υπηρεσία Google Translate για να το μεταφράσετε.

December Cotton closed at 8959, up 39 points, even though USDA improved the nation’s crop in its weekly report Monday. In that data the crop moved from 41% good to excellent to 43% good to excellent.

Cotton’s strength may have been encouraged by the strong performance of Corn, Soybeans and the Dow Jones. Still, December Cotton failed in its technical bid to close over a left behind gap at 8985 from June 15. Once that is done, traders expect the market to hurdle the 90-cent mark.

Wednesday, the Federal Reserve will meet and announce its latest interest rate policy. Most analysts are anticipating a quarter point hike in rates Wednesday, given the stoutness of the U.S. Economy, as reflected by last Friday’s super GDP data. That report indicated the economy grew at 4.1% in the second quarter this year, the highest in five years. Of course, higher rates may translate into a stronger U.S. Dollar. As it stands, a stronger Dollar can be an impediment to agricultural exports.

December 18 closed at 8959 up 39, March 19 went out at 8950 up 56, and December 19 8121, plus 36 points. Estimated daily volume was 27,200.

Πηγή: Agfax

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