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Printable Page Cotton News   Return to Menu - Page 1 3 4 5 6
 
 
DTN Closing Cotton            04/15 13:42

   Cotton Sidesteps Exports, Ends Higher

   The cotton market was able to slough off what some traders considered to be 
a weaker export-sales report to close higher for the day and the month.

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market was able to slough off what some traders considered to be 
a weaker export-sales report to close higher for the day and the month. 
Thursday's export-sales, although decent business, did report sales of 122,000 
bales versus last week's 270,000 bales sold. Also, China was not seen in the 
buying mix, further adding a touch of bearishness. Nonetheless in the last hour 
of trading, future contracts representing both crop years did post new monthly 
highs.

   Spot May cotton will enter into its delivery period on Monday, April 26. 
That means virtually any and all spot month participants must liquidate, or 
liquidate and roll to the July Contract. May cotton will expire on May 6.

   Friday the CFTC will issue its latest commitment-of-traders report. Given 
the recent rise in prices, some traders expect to see an increase in bullish 
positions of certain managed-money speculators.

   Heading into Friday's session, May cotton is up 3.78 cents on the week, 4.14 
cents for the month and 6.32 cents for the year.  

   May cotton closed at 85.02 cents, up 0.82 cent, July settled at 86.26 cents, 
up 74 and December ended at 83.08 cents, up 0.37 cent; estimated volume was 
55,445 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com or by calling 
(229) 890-7780.




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