Cotton futures rose slightly on Wednesday, touching its highest level in over a week, supported by a weaker dollar and an uptick in overall commodities. "The market is kind of sold out. Now it is just waiting for some momentum to get higher," said Peter Egli, director of risk management at British merchant Plexus Cotton.
The front-month May contract on ICE Futures US settled up 0.08 cent, or 0.14 percent, at 58.32 cents per lb, after hitting a high of 58.51 cents.
Total futures market volume fell by 3,370 to 18,592 lots. Data showed total open interest fell 1,786 to 212,253 contracts in the previous session.
The dollar index was down 1.01 percent. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was up 1.57 percent.