By Keith Brown DTN Cotton Correspondent The cotton market finished meekly higher Monday, as it awaits the unfolding of several market-moving reports/events this week. One is Monday afternoon’s USDA crop progress/condition report. Last week the crop was 89% planted versus its five-year average of 94%. Monday’s data may well see a near 100% completion rate. […]
By Keith Brown DTN Cotton Correspondent The cotton market was sharply lower Friday, mainly influenced by the liquidation of the spot July contract. Friday was the last session before July cotton enters it delivery. Thursday saw a 3%-plus decline in price as on-call fixation offsets dominated the trade. Friday saw more selling in the spot […]
By Keith Brown DTN Cotton Correspondent The cotton market was severely punished Thursday, caused by net-negative sales and liquidation of the July on-call interest. Earlier in the session, USDA reported net-negative sales of 119,000 bales against the Old Crop season. Turkey and China were huge cancelers of previously purchased cotton. Next, all producers with cotton […]
By Keith Brown DTN Cotton Correspondent The cotton market settled higher Wednesday amid expectations for Thursday’s weekly sales and exports data, and bigger still, the possibility of resumption of the U.S.-China trade talks. Last week, exports-sales showed lower sales, but stronger shipments. Interestingly, both Mexico and China were net cancelers, which we assume was more […]
By Keith Brown DTN Cotton Correspondent The cotton market finished slightly higher Tuesday, but not before it had zoomed some 1.5 cents higher earlier in the session. The inspiration for such a dynamic pop was an early morning tweet from President Trump, indicating he had talked with China’s President Xi confirming the two will meet […]
By Keith Brown DTN Cotton Correspondent The new crop market was slightly higher Monday as it attempted to ride higher on the strength of Chicago grains. Earlier in the day, Corn was up by a dime, beans were 20-cents higher and cotton was trading 1 cent higher. Yet, cotton had other reasons to trade up. […]
By Keith Brown DTN Cotton Correspondent December Cotton settled lower Friday, leaving the new crop market up only 0.24 cent for the week. This week saw improving field conditions across the Southeast, weaker weekly sales and a stronger U.S. dollar. The dollar traded higher as Mideastern geopolitical tensions heightened with the attack on two civilian […]
By Keith Brown DTN Cotton Correspondent The cotton market sloughed off poor weekly sales to trade higher. Within that data, weekly shipments were higher than last week. There were some small cancellations by China and Mexico. Also adding to the upside move Thursday was the fact that the market remains in a steep oversold state, […]
By Keith Brown DTN Cotton Correspondent The cotton market was strongly higher Wednesday as the market began to work-off its oversold condition. When any market is labeled “oversold,” it means prices for that market have fallen too fast, too steep, without a correction. A quick glance at a cotton chart makes that technical point. Additionally, […]
By Keith Brown DTN Cotton Correspondent The cotton market formed a reversal pattern of sorts Monday by violating the May monthly close and then closing higher on the day. Earlier in the session, the market sustained a deep break which carried new crop December cotton into life-of-contract low territory. However, better news on the Mexican […]
By Keith Brown DTN Cotton Correspondent Just like clockwork, turnaround Tuesday appeared and zapped prices lower. In fact, Spot July posted its high on its opening, and from that moment, it was all downhill. One would have thought with Monday’s huge chart reversal on stout volume, the cotton market would have easily experience blastoff Tuesday. […]
By Keith Brown DTN Cotton Correspondent The cotton market found “reverse gear” Monday and staged a huge first-of-the-month rally. Although prices finished some hundred points higher, the futures had to initially rally over two hundred off their lows to achieve that price level. Additionally, the market remains in an oversold condition due to its 1200-point […]
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