AFB Cotton Close: Price Plunge Lower
Cotton prices plunged lower today, with the October and December contracts closing down the limit. Sharp gains over the last week moved this market into oversold territory signaling a technical selloff in cotton. While the U.S. crop conditions continue to worsen, overall global supplies remain large putting downward pressure on cotton.
The cotton market experienced a very fun and exciting week as trading focused on strong fundamentals factors, both of the bullish and bearish variety. Many have been left perplexed with