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Cotton Falls Back Lower on Turnaround Tuesday
Source: Nasdaq
Commodities & Raw MaterialsEnergy Markets & PricesCurrency & FXEconomic Data
Cotton futures posted “Turnaround Tuesday” losses of 115 to 169 points at the Tuesday close. The move came alongside supportive macro/commodity signals—crude oil was up $4.92/bbl and the US dollar index rose $0.235—while weekly Crop Progress showed 89% of US cotton setting bolls as of Sunday (29% of the crop bolling/filled, per the excerpt), suggesting ongoing but uneven development.
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