By admin       2017-12-04

ICE cotton rose on Friday buoyed by a streak of supportive export sales reports over the last few weeks, further supported by concerns of crop quality in top producer Texas. *Cotton contracts for March settled up 0.47 cent, or 0.65 percent, at 73.28 cents per lb. It traded within a range of 72.66 and 73.41 cents a lb. *The contract registered its sixth consecutive weekly gain and was up about 1.9 percent for the week. *Prices are up on "quality issues in Texas and as U.S. export sales for the year are a little bit further ahead from where it usually is at this time of the year," said Beau Stephenson, Merchant at Omnicotton Inc. *On Thursday, the U.S. Department of Agriculture reported net sales of 276,500 running bales for 2017-18, down 23 percent from the previous week and 14 percent from the prior four-week average, in its weekly export sales report. *Export sales for the natural fiber have totaled over 1.1 million bales in the last three weeks. *Total futures market volume fell by 13,634 to 24,498 lots. Data showed total open interest gained 3,594 to 246,338 contracts in the previous session. *Certificated cotton stocks deliverable as of Nov. 30 totaled 47,729 480-lb bales, down from 47,951 in the previous session. *The dollar index was down 0.11 percent. The Thomson Reuters CoreCommodity CRB Index , which tracks 19 commodities, was up 0.80 percent.

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