ICE cotton mixed

Nearby months were trading between 7 points lower to 24 points higher by 1125 GMT. December ’24 futures opened at 68.68 cents/lb (unch) and had a mostly higher tone, dipping to modest losses for a brief time early in the session before gaining momentum and reaching an intraday high of 69.45 cents/lb (+77) around 0850 GMT. Over the next two hours, the most active contract reversed course, falling to modest losses and to an intraday low of 68.57 cents/lb (-11). December cotton moved back to the upside and by 1125 GMT, the nearby month was trading up 24 points.

Cotton futures on China’s ZCE settled on triple-digit gains overnight. By midday, the US dollar was trading lower, as well as corn, soybeans and wheat.

Volume was estimated at 5,000 and nearby months were trading as follows by 1125 GMT:

Posted in: Cotlook Headlines News