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…