Cotton futures reversed higher on Tuesday, closing up 130 to 188 points. The move came alongside a stronger U.S. dollar index at $98.370 and sharply lower crude oil at $102.68, while NASS crop progress showed 21% of the U.S. cotton crop planted. The report is constructive for cotton prices in the near term, but the overall market impact is likely limited.
Cotton futures reversed higher on Tuesday, closing up 130 to 188 points. The move came alongside a stronger U.S. dollar index at $98.370 and sharply lower crude oil at $102.68, while NASS crop progress showed 21% of the U.S. cotton crop planted. The report is constructive for cotton prices in the near term, but the overall market impact is likely limited.
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Request DemoOverall Sentiment
mildly positive
Sentiment Score
0.15
