DTN Closing Cotton Commentary
Duane Howell DTN Contributing Cotton Analyst
Wed Aug 27, 2014 02:48 PM CDT

Cotton futures settled at a new monthly high close in benchmark December Wednesday amid favorable technical action, mill buying and short-covering.

December closed up 57 points to 67.46 cents, in the upper quarter of its 114-point range from down 31 points at 66.58 to up 83 points at 67.72 cents. It achieved a 25% retracement (67.70) of the 22.72-cent move from the May 8 high to the Aug. 1 contract low of 62.02 cents.

Volume quickened to an estimated 23,300 lots from a final 17,567 lots the previous session when spreads totaled 6,200 lots or 35% and EFS 283 lots. ...

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