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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 planking 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.
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Cotton futures gave back early gains to close 11 points lower to 1 point higher (March). Estimated futures volume was under 13,000 contracts, vs. 18,708 officially on Tuesday. Cotton futures on the Zhengzhou exchange were mostly lower this morning. The Cotlook A index this morning was at 69.95, up .25 from the prior day.Cert stocks for Dec futures delivery are currently at 15,928 bales, with 31 decertified on October 21. With one trading day still to go, the AWP for next week currently appears to be at least .50 lower than this week, with LDP correspondingly larger.