Market rallied from shallow dips on stepped-up activity. December settled on new high close. Indonesian imports estimated to grow slower than previously expected.

Cotton futures rallied from shallow dips to finish strongly ahead in benchmark July and at a new high close for the move in December on stepped-up activity from a slow start Tuesday.

July closed up 183 points to 94.06 cents, the highest finish on the continuous chart since March 25. It settled near the high of its 231-point range from down 25 points at 91.98 to up 206 points 94.29 cents, the highest intraday print for July since March 31.

December settled up 68 points on a new high close for the move at 83.42 cents, three ticks off the high of its 99-point range from down 28 points at 82.46 to up 71 points at 83.45 cents.

Volume quickened to an electronically estimated 25,900 lots from a final 10,109 lots the previous session when spreads accounted for 2,473 lots or 24% and EFP for 42 lots.

Unable to make further downside progress against an underpinning of scale-down mill fixations and tight supplies, July rebounded from a triple-digit closing loss the prior day and surged through chart resistance from 93.50 to 94 cents.

Weather conditions and slow U.S. planting progress have continued to offer new-crop support, with severe thunderstorms roaming the Delta and Southeast and strong winds whipping blowing dust in the Texas High Plains.

The 13% of the crop planted as of Sunday trailed the five-year average for this time of year of 18% and the 10-year average of 20%.

Yet with the big rigs of today, growers can plant their cotton acres within a short time frame. But dry subsoil in the drought-plagued High Plains could translate into heavy abandonment on planted dryland acres, which now account for more than half the regionΆs cotton area.

A wind advisory again is in effect for the High Plains. Winds were expected to increase to 25 to 35 miles per hour in the Lubbock area, with gusts to 50 to 55 mph. This is the third straight day of windy weather. A light freeze is expected tonight in the northwestern High Plains. No rain is foreseen through early next week.

On the international scene, Indonesian 2013-14 cotton imports and consumption are expected to grow slower than previously estimated, according to a report from the U.S. agricultural attache in Jakarta.

The post forecast imports at 2.6 million bales, down from its previous estimate of 2.7 million but up 4% from last seasonΆs 2.5 million. It put domestic consumption at 2.652 million bales, down from the prior estimate of 2.7 million but up from 2.6 million bales last season.

Indonesia ranked as the fifth largest importer of U.S. cotton as of April 17 on purchases of 613,000 running bales.

Assuming higher cotton supplies on the international market will lower prices and an improving world economy will increase demand for textile and textile products, the post forecast 2014-15 Indonesian imports to increase to 2.7 million bales.

Futures open interest dipped 28 lots Monday to 172,138, with maturing MayΆs down 57 lots to 630, JulyΆs down 710 lots to 108,948 and DecemberΆs up 729 lots to 56,402.

Certificated stocks continued to grow, rising 5,644 bales to 310,098 on 6,251 newly certified bales and 607 bales decertified. Awaiting review were 12,496 bales.

World values as measured by the Cotlook A Index fell 90 points Tuesday morning to 93.30 cents. The premium to MondayΆs July futures settlement widened 12 points to 1.07 cents.

The Forward A Index for 2014-15 edged up 10 points to 91 cents, narrowing the discount to the 2013-14 index by 100 points to 2.30 cents and widening the premium to MondayΆs December futures close by seven points to 8.26 cents.