The ICE Mar contract gave up 24 points on the week as the market negotiated improving demand for US cotton for export and loosening domestic and world supplies, finishing the week at 70.81. The nearby spread strengthened 18 points on the week at 31 points of carry.
For next week…
The ICE Mar contract finished the week little changed – off 21 points at 71.04. Still, the front month continued to challenge established resistance near 72.00 – 72.50 each day last week.
For this week…
The ICE Mar contract finished the week little changed – off 21 points at 71.04. Still, the front month continued to challenge established resistance near 72.00 – 72.50 each day last week.
For this week…
The ICE Mar contract struggled over the course of the abbreviated trading week, failing to post a single positive daily gain over the period. Mar ultimately settled at 71.25 – a 107 point weekly setback. While this loss seems somewhat negligible, Mar traded nearly 200 points off last week’s 72.32 settlement, but topped out at an intraweek high of only 72.70.
For this week…
The ICE Mar contract struggled over the course of the abbreviated trading week, failing to post a single positive daily gain over the period. Mar ultimately settled at 71.25 – a 107 point weekly setback. While this loss seems somewhat negligible, Mar traded nearly 200 points off last week’s 72.32 settlement, but topped out at an intraweek high of only 72.70.
For this week…
