Cotton futures gained 77-82 points at midday as managed money cut 21,222 contracts from their net short in the week ended March 31, indicating a significant reduction in speculative short exposure. The US dollar index eased 0.020 to 99.840 while crude oil rose $1.07 to $112.61, lending support to broader commodity strength. The positioning shift points to near-term upside and potential volatility in cotton prices as shorts continue to be pared.
Cotton futures gained 77-82 points at midday as managed money cut 21,222 contracts from their net short in the week ended March 31, indicating a significant reduction in speculative short exposure. The US dollar index eased 0.020 to 99.840 while crude oil rose $1.07 to $112.61, lending support to broader commodity strength. The positioning shift points to near-term upside and potential volatility in cotton prices as shorts continue to be pared.
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mildly positive
Sentiment Score
0.25
