By admin       2018-08-03

The cotton market elected to shrug off trade war concerns Thursday and take its cue from Texas weather concerns. The forecast for West Texas over the next two weeks calls for generally hot and dry conditions. There may be the chances for thunderstorm or two, but those rain events will be localize in nature. Lacking rain over the 14 day ought to seal the fate for much of Dryland Texas. However, the flip side, the Southeast is being pummeled with too much of good thing, namely constant precipitation. The 6/10 day forecast for the southern U.S. suggest normal temperatures and above normal rainfall. As mentioned earlier, the Market has its fundamental sights set on the August Supply-Demand Report on August 10. That report will most definitive give the market its future marching orders. Volume Thursday was estimated at 19,200 contracts December 2018 closed at 8883, up 49, March 2019 at 8875, up 47, and December 2019 closed 8147, up 60.

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