Cotton Falling on Wednesday Morning with Crude Oil Pressure

Cotton futures are down 180 to 200 points in Wednesday morning trade after Tuesday’s turnaround session, when contracts finished 130 to 188 points higher. May cotton expires at the close, adding a near-term technical factor to price action. The U.S. dollar index is up $0.108 to $98.370, which may be a mild headwind for commodity pricing.

Analysis

Cotton futures are down 180 to 200 points in Wednesday morning trade after Tuesday’s turnaround session, when contracts finished 130 to 188 points higher. May cotton expires at the close, adding a near-term technical factor to price action. The U.S. dollar index is up $0.108 to $98.370, which may be a mild headwind for commodity pricing.