DTN Cotton Close: Unable to Override Bearish Outside Influences
DTN Cotton Close: Unable to Override Bearish Outside Influences

DTN Cotton Close: Unable to Override Bearish Outside Influences

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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.

By Keith Brown, DTN Cotton Correspondent 

The cotton market was unable to override the outside bearish forces of falling Chicago grains and sharply lower Dow Jones, finishing Thursday’s session markedly lower. However, the market was able to lift itself out of its earlier triple-digit losses.

Spot July cotton expired Thursday at 85.88 cents, down 0.75 cent. Thus, on Friday, the October contract will assume the role of lead month, although the plurality of trading will still occur in the December Futures.

Friday, USDA will issue its weekly export sales. With the ever-tightening old-crop supplies, any triple-sales amount will be seen as a positive. Currently, new-crop sales are running below expectations.

The U.S. dollar continues to trade volatile, rising and falling on the notion the Federal Reserve will soon invoke its tapering of buying U.S. debt. Overall, the dollar is in a small uptrend.

The six- 10-day forecast calls for normal to above-normal precipitation for much of the Cotton Belt. In fact, the one- to five-day outlook has heavy rain falling into the Delta, thus traders will be keying on the crop conditions reports for the next three weeks.

Thursday, July expired at 85.88 cents, December settled 86.88 cents, down 0.75 cent and March 2022 ended at 86.64 cents, down 0.77 cent; estimated volume was 18,460 contracts.


Πηγή: Agfax

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