Archive for July, 2016

The ICE Dec contract gave up 51 points, post the release of relatively strong US export data, ultimately settling at 73.04. The market traded as low as 71.65 overnight and showed weakness post the report’s release, but traded strongly within the last hour before eventually succumbing to weakness again during the settlement minute. The settlement was within the upper one half of the trading range. The Mar contract lost 54 points at 73.26, the net effect leaving the Dec – Mar spread near unchanged at (22). Volume for Dec delivery quickened at nearly 21K lots while Dec OI was expanded at just above 181K contracts.

For tomorrow…

The ICE Dec contract gave back 40 points ahead of the weekly US cotton export report, settling at 73.55. The settlement was within the lower one quarter of the trading range. The Mar contract lost 57 points at 73.80, the net effect leaving the Dec – Mar spread strengthened at (25). Volume for Dec delivery slowed at just above 19K lots while Dec OI was expanded at just above 180K contracts.

For today…

The ICE Dec contract surged on Tue, breaking out of a recently formed bull pennant flag on the daily charts en route to 166 point daily gain and a settlement at 73.95. The settlement was within the upper one quarter of the trading range. The Mar contract gained 139 points at 74.37, the net effect leaving the Dec – Mar spread strengthened at (42). Volume for Dec delivery quickened at just above 22K lots while Dec OI was near unchanged at just above 178K contracts.

For Wed…