The Dec contract gave up 56 points today in volatile trading action ahead of the weekly US cotton export report, settling at 60.44. The settlement was within the lower one half of today’s expanded trading range. Mar lost 40 points, settling at 60.31, the net effect leaving the Dec – Mar spread weakened at 13. Volume quickened considerably D/D in the Dec contract at nearly 18K contracts while Dec OI expanded at approximately 121K contracts.
For tomorrow…
The Dec contract picked up 25 points today, settling at 61.00 even as the lower end of the previous trading range continues to hold on the daily settlement. The settlement was within the upper one half of today’s tight trading range. Mar gained 30 points, settling at 60.71, the net effect leaving the Dec – Mar spread weakened slightly at 29.
For tomorrow…
The Dec contract began the week with an 11 point gain, settling at 60.75. The settlement was within the upper one quarter of today’s tight trading range. Mar gained 7 points, settling at 60.41, the net effect leaving the Dec – Mar spread strengthened at 34. Volume slowed D/D in the Dec contract at nearly 9K contracts while Dec OI contracted at approximately 120.5K contracts.
For tomorrow…
