08242016Wed
Last update: Wed, 24 Aug 2016 01pm

Cotton and Textiles: World

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Cotton futures rose marginally on Tuesday to trade in a tight range, even as weekly crop progress data from the US government offered limited support to prices. "The markets are trying to hang on to this uptrend line going back to February and it's anybody's guess whether it'll be successful or not," said Peter Egli, director of risk management at British merchant Plexus Cotton.
The following were the fluctuations observed during the day:

Cotton futures registered their biggest intraday percentage gain in 11 days on Monday as investors covered short positions ahead of a weekly crop progress report from the US Department of Agriculture. "We're seeing some short covering," said Jobe Moss, a broker with MCM Inc in Lubbock, Texas.
The following were the fluctuations observed during the day:

Cotton futures snapped two straight sessions of gains and fell on Friday on speculator liquidation ahead of the weekend amid a stronger dollar. "I think we are still seeing some speculator liquidation and a failure of a lot of speculators buying ahead of the weekend," said Louis Rose, an independent cotton trader and consultant with Risk Analytics in Memphis.
The following were the fluctuations observed during the day:

Cotton futures rose on Thursday on a positive weekly export sales report from the US Department of Agriculture (USDA), backed by a weaker US dollar while certificated stocks dipped to their lowest level in over three months. The market factored in weekly export sales data from the USDA, which showed net upland sales totalled 205,000 running bales (RB) of cotton for the week ended Aug. 11 for the 2016/2017 marketing year, up from 132,000 RB the previous week.