ICE cotton inched up on Thursday but remained within a tight trading range as traders looked ahead to the US government supply and demand report expected on Friday, which will be the first after an unexpectedly bullish report last month. "Everybody's kind of on hold. Nobody wants to press it," said Jobe Moss, a broker with MCM Inc in Lubbock, Texas.
December cotton on ICE Futures US settled up by 0.13 cent on Thursday, a 0.2 percent gain, at 63.05 cents per pound. It traded within a range of 62.91 and 63.90 cents a pound. Total futures market volume rose by 4,978 to 15,527 lots. Data showed total open interest gained 903 to 180,578 contracts in the previous session. Certificated cotton stocks deliverable as of September 9 totalled 59,078 480-lb bales, down from 60,221 in the previous session. The dollar index was down 0.60 percent. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was up 1.11 percent. The Relative Strength Index in the most-active contract rose to 44.357.
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