NEWS
Weekly Cotton Comments
Duane Howell DTN Contributing Cotton Analyst
Fri Jul 18, 2014 05:31 AM CDT

Bearish supply-demand forecasts have curbed rally attempts in cotton futures as U.S. new-crop export sales reached robust proportions.

Benchmark December lost 90 points for the week ended Thursday to close at 67.65 cents, still above the 67.10-cent contract low hit on a quick dive when USDA issued updated supply-demand estimates on July 11. It got within a penny of a watched chart point at 66.10, the 2012 low posted on the July contract on June 4 that year.

Impressive new-crop weekly export sales of 342,900 running bales helped to stabilize prices, at least for now, and confine Thursday's price range ...

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