AFB Cotton Close: Prices Rise Modestly
Cotton price rose modestly, today as outside markets remain supportive of gains. Cotton continues to look for fresh fundamentals to trigger another rally in this market and knock it out of the sideways pattern it has been in since March. However, China continues to cast dark shadow on this market, as its policy decisions continue to drive the direction of this market.
Cotton prices slid all week with the exception of 2 minor higher days at midweek. The important 68 cent level was breached in Friday trading opening the way for another