By Keith Brown DTN Cotton Correspondent Cotton was lower Thursday as the highly anticipated weekly sales and exports report was less than friendly. As the old saying goes “Anticipation is always greater than Realization”. Thus, the basic ingredient missing in Thursday’s data was China. For a couple of weeks, China has emerged as a prominent […]
By Keith Brown DTN Cotton Correspondent The cotton market experienced follow-through buying from its Tuesday Turnaround. To that end, December cotton posted its highest close of the move. After moving past the May option bearish debacle, the market immediately began to focus on the impending weekly sales and exports report on Thursday. To that point, […]
By Keith Brown DTN Cotton Correspondent Spot May led the downward charge Monday as its options expiration added additional longs into the trade. Last Friday, as the market was recovering on Chinese quota, the resulting rally caused the market to settle at 78.11 cents. Thus, all calls being held at the 78-strike level were triggered […]
By Keith Brown DTN Cotton Correspondent After an early week downturn on poor supply-demand numbers, the market bounced back on decent weekly sales and exports data. However, overnight news that China was going to expand its import quotas to feed its domestic textile mills allowed the market really zoomed. The National Development and Reform Committee, […]
By Keith Brown DTN Cotton Correspondent Cotton was able to tap on the bearish brakes Wednesday and settled essentially unchanged on the day. On Tuesday, selling emerged from a negatively construed supply-demand report and the market’s overbought condition. Tuesday’s volume was a hefty 60,000-plus. Still, one report doesn’t make a bear market. In fact, if […]
By Keith Brown DTN Cotton Correspondent Cotton took it on its proverbial chin Tuesday as the futures closed double-digit lower. USDA’s crop report was deemed bearish, even as the market entered the day in an overbought technical state. Essentially, the government lowered domestic consumption 100,000 bales, which in turn jumped ending stocks from 4.3 million […]
By Keith Brown DTN Cotton Correspondent The cotton market was higher Monday as traders positioned themselves ahead of USDA monthly supply-demand report. That data will be released Tuesday at high noon. Expectations call for little changes to cotton’s general economic picture. Yet, we are thinking a slight increase in exports is possible. Of late, old […]
By Keith Brown DTN Cotton Correspondent The cotton market finished Friday on a solid bullish note. As of Thursday, Spot May was net down 0.04 cent for the week, but Friday it closed out 0.64 cent higher than last Friday. Clearly, the fundamentals and technicals are in momentary agreement. Fundamentally, strong sales and exports, fewer […]
By Keith Brown DTN Cotton Correspondent The cotton market finished higher Thursday amid a strong showing in USDA’s weekly sales and exports. Combining both crop years, sales totaled some 475,000 bales. China was a net buyer in both seasons. Additionally, weekly exports tallied over 400,000 bales. Such demand power continues to under-gird the market. To […]
By Keith Brown DTN Cotton Correspondent Cotton lost some of its bullish bloom late in the session Wednesday as traders are nervously approaching the market on a day-by-day basis. Such is a reasonable slant as any bull market, like a real bull, must eat every day and Wednesday lacked new friendly news. That could likely […]
By Keith Brown DTN Cotton Correspondent December cotton posted a new high and a new high close Tuesday as traders continue to buy into the bullish intentions theme. Last Friday, USDA somewhat stunned the world of cotton with its Prospective Planting report, indicating 13.80 million acres, which was under all industry guesses. Of course, with […]
By Keith Brown DTN Cotton Correspondent The cotton market started the new month and new quarter with the old crop lower and the new crop higher. The old crop zoomed higher on Friday amid a lower than expected acres intentions number. With only a finite amount of last year’s supply, the lower intentions put additional […]
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