USDA projects all cotton plantings within the US in 2014 at 11.5M acres, 250K more acres than the National Cotton Council projected at its recent annual meeting.
Archive for February, 2014
February 19, 2014
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Wednesday, February 19, 2014
By admin in Daily ReportsMay 14 lost 157 points today to settle at 87.81. The settlement was within the lower one quarter of today’s 174 point trading range (87.74 – 89.55) that was nearly all south of yesterday’s settlement. We had said yesterday that we thought that a significant move lower was possible per the tight distances between daily pivot point support and resistance levels, the implied short option position held by speculators as of Feb 11, and the prognosis for a light export report on Fri of this week.
For tomorrow, our directional call for the front month is…
February 18, 2014
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Tuesday, February 18, 2014
By admin in Daily ReportsMay 14 gained 44 points today to settle at 89.48. The settlement was within the upper one quarter of today’s tight 96 point trading range (88.67 – 89.63). Today’s settlement is the highest of the longer-term bull move.
Technical bias for the front month remains quite bullish; however, a portion of today’s upward movement can most likely be attributed to a weakening US dollar and general bullishness over all commodities.
For tomorrow, our directional call for the front month is…
February 15, 2014
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Saturday, February 15, 2014 – Weekly Complimentary Edition
By admin in Weekly ReportsMay 14 gained 157 points this week when evaluating the data from a rolling front month perspective and 119 points when comparing it to the weekly settlement on Friday, Feb 7. This week’s gain was on par with our prediction at this time last week.
This week’s export report provided the first glimpse of significant sales cancellations in some time, up from nearly nothing on recent reports to approximately 65K bales for the most recent sales period.
For next week, we expect…
February 15, 2014
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Friday, February 14, 2014
By admin in Daily ReportsMay 14 gained 29 points today to settle at 89.04. The settlement was within the upper one half of today’s 150 point trading range (87.95 – 89.45).
Technical bias for the front month remains quite bullish with little technical evidence that suggests an imminent retracement.
For Tue, our directional call is for…
