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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 closed higher on the day, with October picking up 96 points on Friday and finishing the week up 386 points; more than a 6% gain from Friday to Friday. The December 2014 contract finished at its highest closing price since July 24.The dry weather in key parts of Texas is a story, along with rapidly shrinking delivery stocks. The US dollar index was firmer today and crude oil was lower.Cert stocks are at 83,309 bales, with 3,241 decerts. The Cotlook A index was last reported at 74.90.The weekly Commitment of Traders Report from the CFTC showed managed money accounts increasing their net short position by 1,671 contracts to be net short -7,404 contracts as of last Tuesday.