The cotton market was nervously higher Friday as traders anticipated the Saturday meeting between President Trump and President Xi. Comments from both sides leading up the meeting suggest a common hope that a solution indeed exists. Under the right set of circumstances, an agreement between the two nations could prove wildly bullish for cotton. Thus, cotton’s Sunday night opening may be one of the most closely watched of the year.

Friday did see some end-of-the-month squaring, as speculators lighten positions in preparation for the new trading month. For the week, March cotton was up $1.69, for the month it’s up 61 cents, and so far for all of 2018, it is up $5.04. Friday’s volume was another slow day as estimated volume was 13,500. In fact, Friday superseded Thursday as the lowest volume day since early September.