| |
DTN Closing Cotton 10/20 16:09
Cotton Closes Flat to Lower
Although not dramatically higher, the cotton market spent most of Monday's
session in positive territory before ending essentially flat to lower.
Keith Brown
DTN Contributing Cotton Analyst
Although not dramatically higher, the cotton market spent most of Monday's
session in positive territory before ending essentially flat to lower.
Traders were processing both technical and political signals. Technically,
the market has become very oversold, with the speculative funds likely at
record short levels. In addition, politically, the market liked the positive
trade comments President Trump wrote in social media about his upcoming trip to
South Korea.
Crude oil was lower today amid worries of an eventual global glut, and
uncertainty in the US/China trade tensions. Thus, concerns have shifted from
under-supply to oversupply situation.
The U.S. government remains in shutdown, but certain White House officials
have indicated that the event is likely to end sometime this week. It has been
suggested that the Democrats were waiting until after this weekend's nationwide
"No Kings" protests against President Donald Trump.
For today, December 2025 ended at 6416, down 12 points, while March 26
halted at 6577, off 1 point. Today's estimated volume was 38,038 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
(c) Copyright 2025 DTN, LLC. All rights reserved.
DTN offers additional daily information available free through DTN Snapshot – sign up today.
|
|
