ICE Cotton futures edged up on Wednesday to snap a three-day losing streak on cautious buying ahead of the monthly supply and demand report from the US government. "There was a little bit of mill buying but it was very low today, with traders waiting for the report," said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.
The US Department of Agriculture's World Agricultural Supply and Demand Estimates (WASDE) report is due on Thursday.
With the first notice day for the March contract due in about two weeks, the market witnessed a lot of participants rolling forward their positions, said Gabriel Crivorot, analyst at Societe Generale in New York.
"Prices can get volatile the closer you get (to the first notice day)," Crivorot said.
The March cotton contract on ICE Futures US settled up 0.16 cent, or 0.21 percent, at 75.25 cents per lb. It traded within a range of 75.07 and 75.72 cents a lb.
Total futures market volume fell by 16,258 to 60,556 lots. Data showed total open interest fell 4,550 to 283,531 contracts in the previous session.
The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was up 0.47 percent.
The US export sales data from the US Department of Agriculture is also due on Thursday.
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