DJ MARKET TALK: Cotton Futures Hang Onto Gains as Funds Buy

DJ MARKET TALK: Cotton Futures Hang Onto Gains as Funds Buy

A- A+

15:00 EDT - While cotton futures fell on early profit-taking, the market recovered some by day's end amid some dip-buying. It was an inside trading session, highlighting a stoic market today. Flanagan Trading's John Flanagan attributes the recent rally to hedge-fund buying on the back of the record-high prices in corn and soybeans. "They're getting into agricultural commodities." ICE cotton for December delivery settled 0.4% lower at 76.97c/pound.

newsletter

Subscribe to our daily newsletter