By admin       2018-09-05

December cotton rallied off its early lows to finish higher on the day as tropical storm Gordon is expected to reach hurricane status before landfall. December cotton rallied off its early lows to finish higher on the day as tropical storm Gordon is expected to reach hurricane status before landfall. Although much of Gordon’s punch will be heavy rain, it will still pack winds of 75 miles per hour. To that end, it will hit areas of the Delta which, at this point, do not want rain. For the moment, the market is ignoring a strong U.S. Dollar and trade troubles with several of our top cotton customers. Often traders consider the first trading session for any calendar month as setting the tone for that month. While this nuance may not always bear fruit, nonetheless, traders now see some breathing room ahead of USDA’s supply-demand data set for September 12. As it stands, traders may be anticipating a cut to the 19.20 million bale guess promoted by USDA in August. Tuesday’s estimated volume was 28,500 contracts. December cotton settled at 8278, up 56, March was 8308, up 50, and December 19 finished at 7800, down 26. Keith Brown can be reached at commodityconsults@gmail.com or by calling (229) 890-7780.

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