ICE cotton mostly lower
Nearby months were trading between 2 to 28 points lower 1212 GMT. July ’23 futures initially gained modest ground early in the session before falling under pressure and dropping to an intraday low of 86.46 cents/lb (-26) within the first 30 minutes. The spot month saw buyers return, lifting the most active contract back to higher ground and eventually to an intraday high of 87.25 cents/lb (+53) around 0740 GMT. The lead month traded to the upside until falling back under pressure just after 1100 GMT as a mixed tone ensued. By 1212 GMT, July cotton was trading down 2 points.
Cotton futures on China’s ZCE settled on strong gains overnight. By midday, the US dollar was trading lower, as well as wheat while corn and soybeans were trending higher.
Volume was estimated at 4,800 and nearby months were trading as follows by 1212 GMT:
| Jly ’23 | 86.70 | -2 |
| Dec ’23 | 83.76 | -13 |
| Mar ’24 | 83.39 | -23 |
| May ’24 | 82.90 | -28 |
Related Links
Posted in: Cotlook Headlines News
Leave a Reply
You must be logged in to post a comment.