DTN Cotton Open: Market Trades Quietly Lower

    Cotton harvest. ©Debra L Ferguson

    The cotton market is hardly moving ahead of the Thanksgiving holiday as many traders have already exited their platforms until next Monday. To that end, the ICE Futures will trade an abbreviated session on Friday.

    There were two deliveries placed against the December contract. The issuer was ADM, while the stopped was SG Americas. The notice period extends to Dec. 8, the final trading day of the December contract.

    Weekly sales and exports have been pushed out to Friday morning due to the holiday. Last week saw better sales, but terrible shipments.

    For Wednesday, close-in support for March Cotton is 114.60 and 113.60, while resistance stands at 117.45 and 118.50. The estimated morning volume is 4,141 contracts.

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