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Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
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Cotton futures are 15 to 60 points higher at midday, after trade finished 40 to 120 points lower on Wednesday. ?US export sales for the week ending August 20 totaled 81,600 RB of upland cotton, a 48% increase from the week before.? Pima accounted for just 2,200 RB.? Weekly shipments declined by 8,000 MT.? Columbia purchased the most, buying 17,400 RB.? US second quarter GDP was revised upward from 2.3% to 3.7% growth.? The dollar is stronger again this morning.? The Cotlook A Index is down 80 points to 70.50.? There are 76,487 certified bales in stock, with 2,098 decertified bales as old crop load out continues.