Keith Brown DTN Contributing Cotton Analyst
Cotton traded marginally higher Wednesday amid a slightly weaker U.S. dollar and as a continuation of its congestive trading. Volume was fairly muted.
Ordinarily Thursday, USDA would issue its weekly export sales data. But as of this writing that is not expected to happen. In fact, the word is USDA's new reporting website will be indefinitely offline.
This Friday, the Labor Department will report on its latest jobs data for August. Since the Fed's Jackson Hole announcement, much more emphasis has been assigned to this report as it is expected to be highly influential to the central bank's next decision on interest rates.
Weatherwise, constant rainfall is expected across the U.S. Delta and the Southeast. Potentially, such adverse weather could cause some damage to the unfolding crop. The 6- to 10-day and the 8- to 14-day outlooks call for above-normal rain chances across much of the cotton belt.
For Wednesday, December closed at 113.21 cents, up 89 points; March 23 finished at 110.14, plus 87 points; and July 23 settled at 102.54, 118 higher. Wednesday's estimated volume was 19,968 contracts.
Keith Brown can be reached at email@example.com
(c) Copyright 2022 DTN, LLC. All rights reserved.