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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Cotton futures were mixed on the session with gains of 48 points for front month Mar16, but losses of 7 to 33 points thereon out. March futures lost 107 points since last Friday (-1.8%). The USD was more than 1000 points lower this week, but finished Friday on an up note. Crude oil was up more than 10% on Friday, the largest daily % gain in 7 years. The weekly Disaggregated Report today showed that managed money only held a net long position of 599 contracts as of the close on Tuesday. The group was seen reducing their net long position by 24,242 contracts from the week before. The Cotlook A Index was 15 points higher to 66.00. ICE reported that there were 32,629 certified bales in warehouses on February 11, with 3,501 new certs and no decertified bales. The USDA AWP for this upcoming week is 45.09, with the LDP/MLG up to 6.91 cents for the week after being 5.15 cents this past week. That rate is good through next Thursday.