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Cotton Fading Back Lower on Turnaround Tuesday
Source: Nasdaq
Commodities & Raw MaterialsEnergy Markets & PricesCurrency & FXEconomic Data
Cotton futures are in a weak spot on “Turnaround Tuesday,” down 131 to 152 points by midday. Crude oil is around $3.81/bbl while the US dollar index is higher by 0.275, adding pressure to risk assets tied to commodities. Weekly Crop Progress shows 89% of the US cotton crop has set bolls, with 29% further along having bolls, indicating improving crop development.
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