The front month surged ahead today to an intraday high just shy of 87.00 before finally settling 117 points higher D/D at 86.15. The settlement was within the upper one half of today’s 242 point trading range (84.52 – 86.94).
Overall, technical sentiment for the front month remains extremely bearish, with indications of the market being much oversold (except money flow) having dissipated.
For tomorrow…
Dec 14 lost minimal ground today, along with the front month, and exhibited some strength is bouncing off its intraday low at 77.00. Dec gave up 14 points today to settle at 77.72.
In economic news, chain store sales continued their trend of Y/Y gains while also continuing their recent trend of W/W losses. Economic sentiment indicators within the EU were reported higher M/M…
For tomorrow…
The front month showed some strength today, bouncing off of an intraday low below 84.00 to settle near unchanged at 84.87. The settlement was within the upper one half of today’s 191 point trading range (83.66 – 85.77).
Overall technical sentiment for the front month remains very bearish, but indications of the market being much oversold persist. Both July and Dec did exhibit some strength during the latter portion of today’s session.
For tomorrow…
Dec 14 continued its recent slide today, along with the front month, post soaking rains across W TX over the holiday weekend.
Nationally, cotton planting advanced 16 percentage points for the week ending May 25 to 62% complete for this season vs the rolling 5-year average of 64% and last season’s 46%.
For tomorrow…
The front month continued its slide today, post soaking rains across parched W TX over the holiday weekend, to settle at 84.97. The settlement was very near the bottom of today’s 165 point trading range (84.85 – 86.50).
Overall technical sentiment for the front month remains very bearish, but indications of the market being much oversold are increasing.
For tomorrow…
