DTN Closing Cotton 08/17 13:39
Cotton Flags Lower, Awaits China Next Week
The ICE Futures finished lower Friday on moderate volume of 15,800 contracts.
By Keith Brown
DTN Cotton Contributing Analyst
The ICE Futures finished lower Friday on moderate volume of 15,800
contracts. The session was dominated by traders positioning themselves for next
week's U.S.-China trade talks. If some sort of compromise is reached, it ought
to be a boon to the financial and commodities markets. Naturally, the converse
would be true as well.
For the week, December cotton finished about 400 points lower, on its
greatest volume count since the middle of June.
In addition to next week's trade talks, USDA will issue its usual crop
condition data on Monday and its weekly sales and exports on Thursday. That
sales number should be interesting as it will reflect the time the market
declined after the August supply-demand report. Hopefully, big foreign business
was generated on that decline.
December cotton settled at 8139 down 41, March 19 finished 8171, off 30, and
December 19 at 7738, 12 lower
Keith Brown can be reached at email@example.com or by calling
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