NEWS
DTN Closing Cotton Commentary
Thu Mar 14, 2013 03:43 PM CDT

Cotton futures closed significantly higher Thursday, posting triple-digit gains in all contracts but the October. May closed up 2.25 at 90.86, a level it hasn't seen since mid-April of 2012. July closed up 1.99 at 91.54; October up .90 at 89.42; and December up 1.03 at 88.54. The seasonal tendency is for prices to move sideways through March and then lower into April. The long-term trend on the weekly continuation chart is turning up, along with the short-term trend.

The May-to-July spread narrowed to a .68 contango (carry) from a .94 contango yesterday. A narrowing contango reflects commercial buying and ...

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