AFB Cotton Close: Modest Gains, Well Off Highs
Cotton prices traded posted modest gains again today. While the market closed up it again closed well off of its daily high. Prices continue to search for fundamental support for the market. While a weak U.S. dollar and uncertainty around the U.S. crop remains supportive of cotton prices. Large global supplies and questions surrounding China’s cotton policies remain negatives for the market.
For those who spend a lot of effort trying to understand the grain markets and sometimes feel overwhelmed by the complexity of it all, you may want to sit down