| |
DTN Morning Cotton Commentary 02/03 07:17
Cotton Flat to Higher Tuesday
After Monday's small spill, the cotton market is slightly higher Tuesday
morning, likely encouraged by the recovery in the precious metals markets.
Keith Brown
DTN Contributing Cotton Analyst
After Monday's small spill, the cotton market is slightly higher Tuesday
morning, likely encouraged by the recovery in the precious metals markets.
Higher metals often translate into a lower U.S. dollar, and such is the case
today.
The U.S. House will vote today to end the partial government shutdown. So
far, it is day four for the closure.
The Trump administration announced a major trade deal with India. The
country has allegedly promised to buy some $500 billion of U.S. goods,
including agriculture. India also agreed to stop buying Russian oil. The U.S.
in turn reduced its tariffs on Indian goods for 25% to 18%.
March options will expire this Friday, Feb. 6. Traders will be anticipating
what volume of puts and calls may expire in-the-money.
Traders are anticipating several key cotton reports and events occurring
over the next few days. Those include Thursday's Export Sales, Friday's CFTC
data, and March's options expiration, and then next Tuesday's February WASDE.
In addition, the NCC will release its 2026 acres survey on Feb. 12.
Chart support for March cotton stands at 62.00 cents and 61.50 cents, with
resistance hovering about 63.35 cents and 64.20 cents. Tuesday morning's
estimated volume is 16,405 contracts.
Keith Brown can be reached at commodityconsults@gmail.com or by calling
(229) 890-7780.
(c) Copyright 2026 DTN, LLC. All rights reserved.
DTN offers additional daily information available free through DTN Snapshot – sign up today.
|
|
