Front month cotton futures are trading 8 to 33 points in the black at Wednesday’s midday. The March contract was up by over a penny at the daily high – to levels not seen since early December. March contracts left behind a second doji candlestick on the daily chart yesterday. A strong US dollar provided resistance yesterday.
The Cotlook A Index was 91.65 cents/lb on 1/16, unchanged for the day. The AWP was up by another 80 points to 64.96 cents/lb., effective through next Thursday.
Mar 24 Cotton is at 81.73, up 40 points,
May 24 Cotton is at 82.72, up 44 points,
Jul 24 Cotton is at 83.38, up 43 points
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