DTN Closing Cotton Commentary
Duane Howell DTN Contributing Cotton Analyst
Tue Aug 20, 2013 03:10 PM CDT

Cotton futures plunged as much as the 400-point daily limit Tuesday, triggering sell stops on the way down as speculators and funds were seen bailing out of recently established longs.

Benchmark December hit limit down at 88.86 cents around 10:35 a.m. CDT and remained there the remainder of the session. Thinly traded October also closed limit down at 88.76 cents and March shed 372 points to close at 86.28 cents.

Volume climbed to an to an estimated 25,100 lots from 15,620 lots the previous session when spreads totaled 4,051 lots or 26%, EFS 1,308 lots and EFP 33 lots. Options ...

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