ICE cotton higher
After yesterday’s significant losses, nearby months were trending to the upside Tuesday morning and on gains ranging between 42 to 113 points. December ’21 futures opened modestly higher (+13) and slowly gained ground early in the session. By 1228 GMT, the lead month had moved to triple-point gains and was trading at the top of its 115-point range and up 113 points.
By midday, the US dollar was trading lower, as well as corn and wheat while soybeans were trending higher.
Certificated stocks were unchanged and last reported at 60,976 bales, remaining at its lowest level since November 5, 2020 (59,671). There were no bales awaiting review and 34,705 bales reported in both cert stocks and CCC loan as of September 20.
Volume was estimated at 4,400 and nearby months were trading as follows by 1228 GMT: