Chart Source: barchart.com
Notes
ICE cotton dollar prices for Dec. fell right at 420 points this week as prices pushed near 59.75. U.S. certified stocks rose to 19,663 while net export sales were at 158,300 RB. Open interest for December stands at 28,221 with March open interest at 119,646. Crop Progress Report stated 62% of crop was harvested, compared to 50% last week, and 54% this week last year. The 2009 – 2013 average at this time is 64%. Managed money is net long. Technical traders see possible support around 58.00 with possible resistance around 61.50. The trend is down.
Price
Stocks and Sales
(Indonesia was the big buyer at 40,500.)
Current World Balance Sheet (2014/2015)
Imports: 7.00
Current USA Balance Sheet (2014/2015)
Exports: 10.00
Commitments of Traders
- Long: 34,507 (Contracts)
- Short: 80,180
- Long: 52,051
- Short: 4,910
- Long: 47,082
- Short: 27,771
- Long: 17,302
- Short: 34,567
General View
Bearish
*This is for informational purposes only, and not a recommendation to buy or sell.
There is substantial risk of loss to futures and options trading.
Past performance may not be indicative of future results.
One should carefully consider their financial suitability prior to trading futures or options.
