Positioning ahead of a report on U.S. planted acres, fund book-squaring for the approaching end of the month and quarter and rallies in the grains complex have contributed to driving cotton futures higher.
Most-active December rose 66 points for the week ended Thursday to close at 65.38 cents, while maturing July advanced 80 points to settle at 64.88 cents. A lack of July delivery notices helped to fuel the rally.
December settled back above its 40-day and 50-day moving averages and finished at its highest close since June 10, the day of USDA's monthly supply-demand report.
The acreage report from ...