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.
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,