DTN Cotton Close: Trade Worries Keep Investors Away
DTN Cotton Close: Trade Worries Keep Investors Away

DTN Cotton Close: Trade Worries Keep Investors Away

A- A+
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.

December cotton closed down 0.99 Monday, along with most other commodities while talk of increased tariffs continues to keep investors away from the long side of commodity and stock markets.

December cotton fell 0.99 lower to 82.93, its lowest close in over a month as talk of increased tariffs kept investors away from the long side of most commodities on Monday. West Texas will see more hot temperatures this week and not much rain, while the Mississippi Delta and the southeastern U.S. are expecting moderate to locally heavy rain amounts.

Technically, December cotton prices have fallen back sharply from their peak of 94.82 in early June, and there is no sign the correction has stopped yet. Friday’s CFTC data showed noncommercials net long 97,871 contracts with 89% of noncommercial contracts on the long side of the market. The heavy load of long positions makes cotton prices vulnerable to further correction as prices fall.

In cash online trading, The Seam showed 1,114 bales sold Friday at an average price of 65.20 cents. Average loan value was 45.36 cents and 20,402 bales were offered.

The ICE daily stocks report showed certified stocks down 1,033 on Friday at 91,766.

The Cotlook A Index of world values for June 29 was down 0.95 cents at 93.25 cents.

In outside markets, the September U.S. dollar index is up 0.26 at 94.61, while Dow Jones Industrial Average futures were up 36 points at 24,307. August crude oil is down 8 cents and August gold is down $11.70 at $1,242.80. December corn was down 12 1/4 cents, November soybeans were down 10 1/2 cents and September Kansas City wheat was down 17 3/4 cents.

Πηγή: Agfax



Εγγραφείτε στο καθημερινό μας newsletter