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Cotton Fading Back to Start Turnaround Tuesday
Source: Nasdaq
Commodities & Raw MaterialsEconomic DataCurrency & FXEnergy Markets & Prices
Cotton futures opened Tuesday with early losses of 131 to 188 points, contrasting with gains of 170 to 180 points in most front-month contracts earlier. Crude oil was about $2.91/bbl and the US dollar index was down $0.293, suggesting FX/energy were not supportive. Weekly Crop Progress indicated 89% of US cotton is setting bolls, providing a near-term fundamental datapoint amid mixed price action.
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