DTN Closing Cotton: Cotton Ends Limit Down
DTN Closing Cotton: Cotton Ends Limit Down

DTN Closing Cotton: Cotton Ends Limit Down

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Το περιεχόμενο του άρθρου δεν είναι διαθέσιμο στη γλώσσα που έχετε επιλέξει και ως εκ τούτου το εμφανίζουμε στην αυθεντική του εκδοχή. Μπορείτε να χρησιμοποιήσετε την υπηρεσία Google Translate για να το μεταφράσετε.

Keith Brown DTN Contributing Cotton Analyst    

The cotton market was sharply lower to limit down as heightened recession fears overwhelmed buyers. In addition, the Northern Hemisphere remains deep into the 2022 harvest.   

Monday afternoon, USDA will update its crop harvest progress information. Last week's pace was around 37% harvested. Some traders expected Monday's pace to at least be ten percentage points higher.    

The U.S. dollar was able to track sideways Monday, despite its huge bearish reversal of Friday. The growing consensus among traders is that the Federal Reserve could scale back the pace of future interest rate hikes even though it is expected to raise rates in November. Some analysts are expecting a full point hike next month.    

The stock index futures were higher as investors continue to assess the outlook for monetary policy, while awaiting another round of corporate earnings reports. About 30% of the companies of the S&P 500 are expected to be reported. There were comments from a "small minority" of Federal Reserve officials who are concerned about overtightening.    

For Monday, December closed at 76.13 cents, down 3.00 cents, March 2023 finished at 75.74 cents, down 2.81 cents and July 2023 settled at 74.65 cents, 2.43 cents lower; estimated volume was 37,091 contracts.    

Keith Brown can be reached at commodityconsults@gmail.com 

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Πηγή: qualitygin.com

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