CME Cotton #2 Oct '13 (KGV13)
CME Cotton #2 Futures Market News and Commentary
Cotton futures rounded out the Friday session with contracts down 151 to 333 points. July was 412 points in the red this week, with December falling 355 points. The US dollar index was $0.467 higher at $99.195. Crude oil was up $4.49 at $105.66 on the day.
Few details announced following the meeting with President Trump and China’s President Xi left the market hanging. President Trump stated early this morning that US farmers will be very happy with the trade deals with China. The market didn’t seem as confident.
CFTC data showed managed money adding another 8,386 contracts of cotton futures and options to their net long in the week ending on 5/12, taking it to 59,570 contracts.
USDA’s Export Sales report from Thursday now has the US export business at 10.863 million RB, which is 97% of the USDA forecast and lags the 105% average sales pace. Export shipments are 71% of the USDA forecast and behind the 73% average pace.
The Seam showed sales of just 6 bales o... Read more
Barchart · Fri May 15, 4:52PM CDT
Cotton futures rounded out the Friday session with contracts down 151 to 333 points. July was 412 points in the red this week, with December falling 355...
Barchart · Fri May 15, 1:22PM CDT
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