ICE cotton higher
Nearby months were trending between 13 to 37 points higher Friday morning. March ’21 futures gained ground as the morning progressed, reaching an intraday high of 71.83 cents/lb (+72) by 1145 GMT. The lead month met some resistance, but remained on positive territory and by 1330 GMT, the most active contract was trading up 37 points.
Cotton futures on China’s ZCE settled lower overnight. By midday, the US dollar was trading lower, as well as corn, soybeans and wheat.
Certificated stocks were last reported at 101,220 bales, which included decerts for 12,105 bales. There were no bales awaiting review and 58,538 bales reported in both cert stocks and CCC loan as of December 3.
Volume was estimated at 4,100 and nearby months were trading as follows by 1330 GMT:
| Dec ’20 | 69.55 | +13 |
| Mar ’21 | 71.48 | +37 |
| May ’21 | 72.31 | +31 |
| Jly ’21 | 73.04 | +28 |
Posted in: Cotlook Headlines News
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