December Cotton was lower Thursday as its fundamental and technical outlooks are basically bearish. The lineup of those factors includes unresolved trade problems with China and Turkey, a resurging Dollar, an impending 2018 Harvest. Technically, the 100-Day Trend is flat to lower.
Thus, the incentive for speculators to remain long is becoming less and less. Additionally, Friday might experience some the end-of-the-month selling, as well as position squaring ahead of three-day Labor Day Weekend.
Estimated volume was 15,000 traded. December Cotton 8226, down 50, March 19 8263, down 58, and December 19 7808, off 9.