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DTN Morning Cotton Commentary 11/18 07:11
Cotton Trades Both Sides of Steady
The cotton market is trading both sides of unchanged Tuesday morning.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market is trading both sides of unchanged Tuesday morning. The
market has posted three consecutive life-of-contract lows since last Friday's
bearish supply-demand update. Obviously, it is in dire need of fresh, friendly
information.
Supposedly, the Labor Department will issue a catch-up monthly jobs report
this Thursday. Recent private-sector employment tabulations suggested a
drop-off in hirings.
December cotton will enter its delivery on Nov. 21. Thus, all traders,
except those intending to participate in the notice process, will have to
liquidate or roll forward in time.
The CFTC has yet to issue any Commitments of Traders information, but as of
this writing, may do so this Friday. The last report, Sept. 26, held a
net-short position of 62,004 contracts.
USDA is expected to issue weekly export sales reports. They have published a
schedule of releases which looks to be offering data with a one-week lag till
January 2026.
Daily chart support for March cotton stands at 63.50 cents and 63.00 cents,
with resistance at 64.85 cents and 66.05 cents. Tuesday morning's estimated
volume is 10,944 contracts.
Keith Brown can be reached at commodityconsults@gmail.comor by calling (229)
890-7780.
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