Cotton contracts on China's Zhengzhou Exchange were lower, in step with the continued sell-off by China's equities markets. Grain futures were quietly higher early Friday led by continued strong commercial buying in soybeans and bean meal. Crude oil was down $0.85 at $47.67 while gold was down $8.90 at $1,079.80. The U.S. dollar index was 0.261 lower at 97.299.
Dec cotton's bullish short-term technical signals were erased almost as quickly as they appeared this week, leaving the contract in a downtrend on its daily chart. The contract posted a new low (for this move) of 63.27 ...