By Keith Brown DTN Cotton Correspondent 

The cotton market finished higher Friday after midmorning comments by Trump expressing the possibility of a Chinese trade deal next week. This coming Thursday a senior Chinese trade delegation will be in Washington, D.C., to renew negotiations to end the 15-month old tariff war. Many market observers do not share the Administration’s enthusiasm for constructing a deal.

Their resistance revolves around the Democrat’s impeachment proceedings. In fact, Trump acknowledged Friday that the House may have the necessary votes, but that he would win in the Senate trail.

This Monday, USDA will issue another crop harvest progress report. The last number had the 2019 U.S. crop some 16% gathered. Then on Thursday, besides the restart of the U.S.-China trade talks that morning, USDA will issue its latest supply-demand estimates at high Noon. It is expected the government will lower both current crop production, and to some extent exports, thus possibly reducing domestic carryout.

For the week, December cotton was up about 0.77 cent. Weekly volume is estimated to be 100,021 contracts, versus last week’s volume rate of 92,151 contracts.

For Friday, December cotton settled at 61.67 cents, up 0.07 cent, March finished at 62.42 cents, up 0.06 cent and December 2020 settled at 64.61 cents, up 0.02 cent. Estimated daily volume was 17,813 contracts.