DTN Closing Cotton Commentary
Darin Newsom DTN Senior Analyst
Tue Aug 13, 2013 03:02 PM CDT

The December cotton contract extended its recent uptrend Tuesday, pushing to a daily high of 92.54 cents per pound. However, the contract was unable to hold the bulk of its early gains, falling back to close 1.64 cents higher at 91.72.

Gains were trimmed by a late round of commercial selling, as indicated by the action in the December to March futures spread (weakening inverse), leading to technical signals indicating a short-term top could be established in the market.

Fundamentally new-crop cotton remains bullish. The previously mentioned December to March spread inverse closed at 2.22 cents, just below its recent ...

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