Published on 07-24-2013
Cotton Trades Modestly Higher
Solid euro zone data helped to lift stock index futures after earlier data showed another slowdown in Chinese manufacturing activity. Cash business sales increased on The Seam.By Duane Howell DTN Cotton Correspondent
Cotton futures traded with modest gains Wednesday after opening overnight dealings around session lows.
Benchmark December hovered up 29 points to 85.96 cents at 7:47 a.m. CDT, trading within a 62-point span from 85.51 to 86.13 cents on a contract volume of 1,162 lots. March gained 26 points to 84.30 cents.
Solid euro zone data showing factories increased output for the first time in more than a year helped to lift U.S. stock index futures after earlier data showed another slowdown in Chinese manufacturing activity. HSBC Corp.’s preliminary China purchasing managers’ index declined to an 11-month low of 47.7 this month from 48.2 in June. A score below 50 indicates slowing factory activity.
Dow Jones futures rose 31 points and S&P futures 5.25 points, while dollar index futures gained 0.210 to 82.250, crude oil fell 58 cents to $106.65, Brent crude dropped 93 cents to $107.49 and gold edged up $1 to $1,335.70. December corn was lower, November soybeans higher and September wheat higher at Chicago and Kansas City.
Read More
http://sweetfutures.com/2013/dtn-morning-comments-on-cotton-22/
The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.
