Most markets did little Tuesday, awaiting WednesdayΆs conclusion of the FOMCΆs two-day meeting.

Comments:

Markets in general were quiet Tuesday as traders await a decision by the FOMC on interest rates. While the general consensus is the Fed wonΆt make a move in March, the language will be watched closely for signs of what to expect at the June meeting. Cotton, like most markets, was mixed with new-crop December continuing to find support from the floods in the U.S Southeastern Delta growing area.

General Comments:

May cotton closed 0.05 lower at 58.24 with new-crop December up 0.24 at 57.69. May corn closed 1/4 cent lower, May soybeans finished 3 3/4 cents lower, and May Chicago wheat closed 1 1/2 cents lower. The U.S. dollar index was up 0.039 at 96.663. April gold was $13.40 lower at $1,231.70 while May silver was $0.241 lower and May copper fell $0.0060. The Dow Jones Industrial Average was 5 points lower at 17,224. April crude oil was $0.78 lower at $36.40.