The July contract gave up 34 points on the second day of the three day Rogers roll, settling at 63.94 – a 17 point monthly gain. The settlement was within the upper one half of the trading range. The Dec contract lost 30 points, settling at 63.55 – a 73 point monthly gain, the net effect leaving the July – Dec spread near unchanged at 39. Volume quickened for July delivery at just above 17K contracts while July OI was near contracted at approximately 94K contracts.
For tomorrow…
It was quite a week for the bulls – not only in cotton, but in the grains, as well. ICE July futures surged, gaining 261 points on the week and have traded in excess of 1000 points on this year’s continuation low just below 54.50. The Dec contract had quite a week, as well, logging a 252 point weekly gain.
For this week…
The July contract gave up 5 points on the first day of the Rogers roll, settling at 64.28 – a 261 point weekly gain. The settlement was within the upper one half of the trading range. The Dec contract lost 9 points, settling at 63.85 – a 252 point weekly gain, the net effect leaving the July – Dec spread strengthened at 43. Volume slowed for July delivery at just below 14K contracts while July OI was near contracted at approximately 95K contracts.
For Tue…
It was quite a week for the bulls – not only in cotton, but in the grains, as well. ICE July futures surged, gaining 261 points on the week and have traded in excess of 1000 points on this year’s continuation low just below 54.50. The Dec contract had quite a week, as well, logging a 252 point weekly gain.
For next week…
