By admin       2017-12-06

*ICE cotton futures ended nearly unchanged on Tuesday after touching their lowest in almost a week on a lack of speculative buying. *Cotton contracts for March settled down 0.07 cent, or 0.10 percent, at 72.51 cents per lb. They traded within a range of 72.14 – their lowest since Nov. 29 – and 73.15 cents a lb. *"We have exhausted the upside move that was based on speculative buying and now we are kind of consolidating and restoring a bit," said Peter Egli, director of risk management at British merchant Plexus Cotton. *"The next buying wave is probably going to come from mill fixations," Egli added. *Total futures market volume rose by 4,799 to 27,625 lots. Data showed total open interest fell 53 to 248,728 contracts in the previous session. *Certificated cotton stocks deliverable as of Dec. 4 totaled 47,628 480-lb bales, unchanged from 47,628 in the previous session. *The dollar index was up 0.14 percent. The Thomson Reuters CoreCommodity CRB Index , which tracks 19 commodities, was down 0.65 percent.

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