Cotton Posting Early Wednesday Gains

Cotton futures are up 83 to 104 points Wednesday morning after Tuesday’s 11 to 61 point decline. The U.S. dollar index is down $0.278 to $97.885, while crude oil is off $7.01 as reports suggest the U.S. and Iran could move toward an agreement. The move reflects cross-asset pressure from FX and energy markets rather than a major cotton-specific catalyst.

Analysis

Cotton futures are up 83 to 104 points Wednesday morning after Tuesday’s 11 to 61 point decline. The U.S. dollar index is down $0.278 to $97.885, while crude oil is off $7.01 as reports suggest the U.S. and Iran could move toward an agreement. The move reflects cross-asset pressure from FX and energy markets rather than a major cotton-specific catalyst.