The ICE Dec contract gave up 65 points ahead of the weekly US cotton export report, settling at 67.79. The settlement was within the lower one quarter today’s trading range. The Mar contract lost 80 points at 68.32, the net effect leaving the Dec – Mar spread strengthened at (53). Volume for Dec delivery quickened at nearly 13K lots while Dec OI contracted again at approximately 157.7K contracts.
For tomorrow…
The ICE Dec contract gapped higher on last evening’s open and never completely recovered, ultimately picking up 16 points on the day and settling at 68.44. The settlement was within the lower one quarter today’s tight very tight 75 point trading range. The Mar contract gained 17 points at 69.12, the net effect leaving the Dec – Mar spread near unchanged at (68). Volume for Dec delivery slowed notably at very near 9K lots while Dec OI contracted again at approximately 158.6K contracts.
For tomorrow…
The ICE Dec contract picked up 25 points on Mon, settling at 68.28. The settlement was within the upper one half of the trading range. The Mar contract gained 19 points at 68.95, the net effect leaving the Dec – Mar spread strengthened at (67). Volume for Dec delivery slowed at approximately 11.5K lots while Dec OI contracted again at just above 161K contracts.
For today…
