The ICE Mar contract picked up 20 points on Tue, settling at 73.19. The May contract also gained 20 points, settling at 73.64 – the net effect leaving the Mar – May spread unchanged at (45). Volume for Mar delivery slowed at around 14.5K lots while Mar OI contracted at approximately 175.5K contracts.
For today…
The ICE Mar contract picked up 24 points for the week ending Dec 16 as the market continued to negotiate strong demand for US cotton for export and bearish domestic and international supply side fundamental factors, settling the week at 71.04. The nearby spread remained near flat at just 28 points of carry. The old crop – new crop spread remains steeply inverted at around 200 points on July – Dec.
For this week…
The ICE Mar contract lost 63 points on Fri, settling at 71.04 – a 24 point gain on the week. The Mar contract lost 60 points at 71.32, the net effect leaving the Dec – Mar spread weakened at (28). Volume for Mar delivery was near unchanged at just above 10K lots while Mar OI contracted at approximately 176K contracts.
For today…
The ICE Mar gained 20 points on Thu, post the release of strong US export data and surging US currency, settling at 71.67. The Mar contract gained 21 points at 71.92, the net effect leaving the Dec – Mar spread weakened at (21). Volume for Mar delivery slowed at just above 10K lots while Mar OI was near unchanged at approximately 178K contracts.
For today…
