DTN Cotton Close: Higher on Hopeful Trade Talks
DTN Cotton Close: Higher on Hopeful Trade Talks

DTN Cotton Close: Higher on Hopeful Trade Talks

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ICE cotton futures closed higher Monday on hopes for renewed trade talks between China and the U.S.

News of renewed U.S.-China trade negotiations this week catapulted ICE cotton futures higher Sunday night and throughout Monday’s session. The obvious hope for cotton is the U.S. and China will be able to come to terms, which would reduce trade war tensions between the world’s two largest economies.

Unfortunately, such events can prove to be a two-edged sword, in that another trade failure may send cotton and related agricultural markets disappointingly lower. Still, for the moment, all cotton eyes are on these talks.

USDA will issue its latest crop condition data at 4 p.m. EDT. Last week, the 2018 crop worsened a bit. However, Texas received some rain over the weekend, which ought to benefit its irrigated crop.

Monday’s estimated volume was 22,500 contracts. December cotton finished at 8270,up 131, March 19 was 8287, up 116, and December 19 at 7790, up 52 points.

Source: Agfax

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