Published on 04-17-2013
Cotton Trades Flat within Tight Ranges
U.S. stock index futures slide and dollar index strengthens. Cash business sales increased and grower sales were inactive on The Seam.By Duane Howell DTN Cotton Correspondent
Cotton futures traded a few ticks below unchanged Wednesday after opening the overnight session flat and bouncing to modest gains on the heels of a two-day skid.
Most-active July hovered off six points at 85.36 cents at 8:04 a.m. CDT, trading within a tight 71-point range between 85.24 and 85.95 cents on a turnover of 2,064 lots.
Spot May, facing first notice day on April 24, traded off seven ticks at 83.28 cents, moving between 83.23-83.87 on a volume of 1,090 lots, and December eased off nine points to 84.66 cents, trading from 84.64-85.15 on 261 lots.
U.S. stock index futures fell, pointing to a weak start on Wall Street despite recent positive corporate earnings report. Markets later in the day will take a look at the Federal Reserve’s Beige Book report on economic conditions. European shares fell for the fourth session in a row and Asian stocks were boosted by Tuesday’s positive U.S. data.
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