By admin       2018-09-11

December cotton is trading higher with triple-digit gains this morning as it appears Hurricane Florence will make a direct hit in the eastern United States. Certainly, the cotton fields of both Carolinas and Virginia are at huge risk. In fact, the potential for Florence to become a Category 4 is very likely, and may be the strongest storm to bang the mid-Atlantic states in thirty years. The expected surge, heavy rains, and high winds are likely to damage much of the cotton production locate in those states. Currently, December cotton is trading at 8305, up 105 points. Volume is estimated at 3,900 contracts. On Wednesday, USDA will issue its monthly supply-demand report for September, which may coincide when Florence is likely to make her move. No doubt this week will be very emotional.

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