By admin       2019-02-01

Cotton remained directionless Thursday as its awaits any market-moving news from the U.S./China trade talks. Those talks will end Thursday with most likely another meeting planned in February, probably in China. However, President Trump is scheduled to meet with China’s top negotiator Thursday afternoon at 4 p.m.The only factual news that the cotton market saw Thursday was from USDA’s weekly sales and exports report. However, Thursday’s information dates back to the missed report of December 20, 2018. Due to the government shutdown future export-sales reports will be staggered over the next few weeks, with a major combination report for all of January at the end of February.For the month of January, spot cotton finished some 2.00 cents, and now carries the lowest price made since the harvest lows. Friday being February 1, the market will began to hone in on the monthly supply-demand report. Many traders currently believe the 2018 domestic crop is smaller and if they continue to see such dynamic export business they will rightfully assume ending stocks for the old crop will be reduced.March cotton closed at 74.40 cents, up 0.04 cent, July was at 76.90 cents, down 0.12 cent and December finished at 74.20 cents, off 0.22 cent. Thursday’s estimated volume was 50,815 contracts.

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