Cotton futures rebounded higher on Tuesday, with contracts up 27 to 40 points by midday. Crude oil rose $1.03 on the day and the US dollar index gained $0.380, providing a firmer broader commodity/FX backdrop. The latest Crop Progress update indicated 60% of the US cotton crop was squared as of the latest report (with the article suggesting context for the move).
Cotton futures rebounded higher on Tuesday, with contracts up 27 to 40 points by midday. Crude oil rose $1.03 on the day and the US dollar index gained $0.380, providing a firmer broader commodity/FX backdrop. The latest Crop Progress update indicated 60% of the US cotton crop was squared as of the latest report (with the article suggesting context for the move).
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mildly positive
Sentiment Score
0.12
