By Keith Brown DTN Cotton Correspondent The market pushed lower Friday, hamstrung by its ongoing bearish trend and two presidential tweets which added to the existing negative sentiment. Cotton was already under pressure from its dismal weekly sales and exports data of Thursday, when Trump referenced China’s President Xi as “the enemy” and in another […]
By Keith Brown DTN Cotton Correspondent Cotton was lower amid Thursday’s poor weekly sales and exports data. Current-season 2019-20 sales were 164,000 bales, while new-crop 2011-12 was only a mere 500 bales sold! Contrast that with the business done last week, where weekly sales totaled more than 330,000 bales. On top of that, the market […]
By Keith Brown DTN Cotton Correspondent The market finished surprisingly higher Wednesday, although cotton remains confined in a congestive pattern. Holding a December chart out at arm’s length, one readily sees the massive negative trend unfolding since Easter, but also how lately, ICE Futures have been trading in a tight, narrow pattern. Of course, some […]
By Keith Brown DTN Cotton Correspondent The cotton market was slightly lower Tuesday, leaving some traders to describe it as a failed Turnaround Tuesday. This longstanding phenomenon suggests, time in and time out, Tuesday’s trade is typically opposite of that of the preceding Monday. However, Tuesday was not the case despite Monday’s sharply lower session. […]
By Keith Brown DTN Cotton Correspondent Poor crop conditions this past weekend could not overcome the bearish sentiment and outlook for the cotton market Monday. Thus, Sunday night’s beginning saw December cotton put its daily high on the opening, and from that moment, it was all technically downhill. There was one midmorning attempt to rally, […]
By Keith Brown DTN Cotton Correspondent The cotton market closed slightly over the 60-cent mark for the first time in 10 sessions. Some traders believe such a move carries more of a psychological and technical effect than a net financial one. However, volume was less than enthusiastic, suggesting the dominant reason for buying was short-covering […]
By Keith Brown DTN Cotton Correspondent Despite better sales and exports data Thursday morning, the cotton market could not hold together. Initially, the market did ride over the all-psychologically important 60-cent mark, but as the morning wore on, fresh speculator selling emerged and prices retreated. News that China was planning to retaliate against the implementation […]
By Keith Brown DTN Cotton Correspondent The cotton market was sharply higher Tuesday when the news came out that the U.S. would delay tariffs on certain imported Chinese items. Additionally, rumors swirled that China indicated it would buy a huge amount of U.S. agricultural products to stave off the September 1 deadline for tariff implementation. […]
By Keith Brown DTN Cotton Correspondent The cotton market was lower Monday on USDA crop report data. Essentially, the government raised the 2019 crop some 500,000 bales to 22.520 million bales. However, in a surprise move, USDA also increased exports 200,000 bales to 17.20 million bales. The pre-report consensus was a 500,000-bale slash in exports […]
By Keith Brown DTN Cotton Correspondent The cotton market finished slightly lower on Friday and slightly lower on the week, as both its fundamentals and technicians remain staunchly bearish. Chart-wise the trend of cotton remains steeply down, with speculators holding a record net-short position. Even in its oversold condition, the market could not trade over […]
By Keith Brown DTN Cotton Correspondent The cotton market finished nearly limit-down Friday as fears the new U.S. tariffs will further widen the trade war. Just this week, President Trump implemented a 10% tariff on additional Chinese imports. The new tariffs are set to take effect on September 1. The news sent most commodities markets […]
August 1, 2019 By Keith Brown DTN Cotton Correspondent The cotton market was triple-digits lower Thursday after an afternoon tweet from President Trump stated new tariffs on China were forthcoming. After spending most of the day trading lethargically, the tweet encouraged the already record net-short shorts to come in with more selling. The President announced a […]
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