DTN Closing Cotton Commentary
Darin Newsom DTN Senior Analyst
Wed May 1, 2013 03:24 PM CDT

A look across the commodity landscape Wednesday afternoon shows the carnage created by unchecked noncommercial selling. Cotton was no different, caught up in the tidal wave that dragged most markets sharply lower. If selling continues unabated this week the July contract is in position to establish a bearish technical signal on its weekly chart that would indicated increased pressure in the short-term.

The commercial side of the market stayed on the sidelines for much of the day, though the slight strengthening of the carry in the new-crop December to March spread would hint at a late round of selling from ...

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