Cotton Posts Small Gains
Informa has projected U.S. all-cotton output of 14.107 million bales, sources said. Light cash business sales reported on The Seam.
By Duane Howell DTN Cotton Correspondent
Cotton futures posted small gains Monday as the dollar index took a breather after an earlier rally against a basket of currencies.
Most-active December hovered up 22 points to 85.25 cents at 7:54 a.m. CDT, trading within an 86-point range from 84.63 to 85.49 cents on a contract volume of 1,335 lots.
In outside markets, dollar index futures slipped 0.124 to 84.565, Dow Jones futures gained 62 points and S&P futures rose 7.50 points, crude oil fell $1.01 to $102.21, Brent crude dropped 83 cents to $106.89 and gold gained $19.50 to $1,232.20. Corn, soybeans and wheat were higher.
China’s Zhengzhou cotton futures settled mostly lower, with July down 15 yuan or 0.07% and only September on the plus side at up 45 yuan or 0.22%. Prices were mixed on the China National Cotton Exchange and the China Cotton Index was steady.
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