The July contract continued to consolidate its gains ahead of the US cotton export report and month’s end, settling at 64.15. The settlement was within the upper one quarter of the trading range. The Dec contract gained 21 points, settling at 63.00, the net effect leaving the July – Dec spread strengthened at 115. Volume slowed for July delivery at approximately 14.7K contracts while July OI contracted at just above 114K contracts.
For tomorrow…
The July contract gave back 21 points today, settling at 63.83. The settlement was within the lower one half of the trading range. The Dec contract gained 7 points, settling at 62.79, the net effect leaving the July – Dec spread weakened at 104. Volume slowed for July delivery at approximately 15.5K contracts while July OI expanded at just above 114K contracts.
For tomorrow…
The July contract picked up 35 points today, settling at 64.04. The settlement was within the upper one quarter of the trading range. The Dec contract gained 20 points, settling at 62.72, the net effect leaving the July – Dec spread strengthened at 132. Volume was near unchanged for July delivery at nearly 20K contracts while July OI expanded at nearly 114K contracts.
For tomorrow…
