ICE cotton sharply higher
Nearby months were trading between 111 to 248 points higher by 1236 GMT. July ’21 futures traded modestly higher early in the session before buyers became active, raising the spot month to sharp gains and to an intraday high of 83.97 cents/lb (+244) around 0550 GMT. The most active contract started to meet resistance around 0615 GMT, moving off its high but remaining on triple-point gains. By 1236 GMT, July ’21 futures were trading up 133 points.
Cotton futures on China’s ZCE settled with strong gains overnight. By midday, the US dollar was trading higher while corn, soybeans and wheat were trending lower.
Volume was estimated at 9,300 and nearby months were trading as follows by 1236 GMT:
| Jly ’21 | 82.86 | +133 |
| Oct ’21 | 84.72 | +248 |
| Dec ’21 | 83.36 | +137 |
| Mar ’22 | 82.95 | +111 |
Posted in: Cotlook Headlines News
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