Cotton #2 Dec '21 (CTZ21)
Cotton #2 Futures Market News and Commentary
Afternoon cotton trading left new crop futures firm, closing 1 to 7 points in the black, where old crop July fell 33 points. The weekly CoT report showed managed money at 42,685 contracts net long in cotton on 6/15. That was a 4,740 contract increase from Tuesday to Tuesday driven by short covering and net new buying. The Dollar Index pulled back on Monday, fading last week’s strength.
The weekly NASS Crop Progress report showed 96% of the cotton crop was planted by 6/20. That was 1% point ahead of the 5-yr average. NASS reported 4% of the crop was squaring, with TX at 6%. National conditions equaled a 354 on the Brugler500 Index. That was up 11 points from last week, led by sharp improvements for OK, SC, TN, and TX. NOAA’s 7-day QPF shows the Delta and Southeast are expected to continue getting rains, with heavy accumulations also moving north into Missouri and the Ohio River Valley.
USDA’s Daily Spot Quotations report from 6/21 showed 70 bales were sold at spot in the... Read more
- Grains - Turn Down Tuesday - Bear Flags
Prepare to take out last week's lows
- Cotton Closes Mixed on Monday
Afternoon cotton trading left new crop futures firm, closing 1 to 7 points in the black, where old crop July fell 33 points. The weekly CoT report showed...
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