The stronger dollar continues to hang around as equity markets were unchanged and commodities were mixed. Gold hit a contract high today as the currency instability in Europe continues. The USDA report was uneventful as the 10/11 numbers came in as expected and mostly unchanged. Volume was average again today as we remain range bound between 80/82.

However, as we keep failing to breakthrough the resistance at the top of the range, we may see some more spec liquidation down the road. However, mill demand is under the market and will certainly be supportive on dips. ACSA starts to meet tomorrow in Charleston, South Carolina where many U.S. merchants will be present. Cert stocks keep rising as cotton looks for guidance from outside markets.