DTN Cotton Close: Another Banner Session
DTN Cotton Close: Another Banner Session

DTN Cotton Close: Another Banner Session

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By Keith Brown, DTN Contributing Cotton Analyst 

The cotton market posted yet another banner session Wednesday, as it followed many other financial and commodities markets higher. Traders liked the fact the Biden administration said Tuesday that it would not propose any sort of forced lockdowns to stem the omicron COVID-19 variant, and thus some selling pressure was alleviated.

Thursday morning, USDA will issue its weekly export-sales data. Last week’s information had combined crop year sales of 342,000 bales, with China as the main participant. Exports were 131,000, which was up 15% week over week.

Heading into the three-day Christmas observance, March cotton is up 1.53 cents on the week, it’s up 2.42 cents for the month and stands at 33.56 cents positive for the year.

Wednesday, March cotton settled at 108.83 cents, up 1.56 cents, July ended at 103.90 cents, up 1.54 cents and December ended at 89.99 cents, 0.08 cent higher; estimated volume was 14,730 contracts.

Πηγή: Agfax



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