Daily Reports

June
27
2014

Friday, June 27, 2014 – Daily Cotton Producers and Ginners Edition

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Dec has now given up 980 points over the last 38 trading days. Dec should again commence trading action Sun evening well below its 5-, 10-, 20-, 50-, 100- and 200-day SMAs. Technical sentiment for Dec remains bearish, nearly identical to yesterday’s analysis. Fundamentally, the USDA’s annual acreage report is scheduled for release at 12:00 PM, US, EST on Mon, June 30... For Mon...

June
26
2014

Thursday, June 26, 2014 – Daily Cotton Producers and Ginners Edition

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Today’s export report was negative for new crop futures; the volume weighted average price over the sales period reported upon today was near 77.00, base Dec, which produced only 24.1K RBs of net sales. In cotton related news, Bloomberg has released the results of their survey of nine cotton industry analysts and traders, to which we contribute, pertaining to expected planted cotton acreage estimates to be put forth on the upcoming USDA planted acreage report. For tomorrow...

June
26
2014

Thursday, June 26, 2014 – Dec Plunges to Two Year Low, Bloomberg Releases Pre-USDA Acreage Survey Results

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Dec gave up another 63 points today (305 points over the last three days); post the dissemination of an abysmal US cotton export report, to settle at 74.63. Dec traded down to 73.71, a two year low, before rebounding for the latter half of the day session. Technical sentiment for Dec remains bearish, but indications that the market is oversold are solidifying. For tomorrow...

June
25
2014

Wednesday, June 25, 2014 – Daily Cotton Producers and Ginners Edition

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Weather remains generally favorable to cotton plant development across most cotton producing regions of the US with warm temperatures and PM thundershowers occurring across most areas. No mention of drought relief for CA, however, is mentioned in current weather forecasts. Dec has given up 939 points over the last 36 trading days. Resistance was found today at 76.81 while support was found at 75.03. Dec should again commence trading action this evening below its 5-, 10-, 20-, 50-, 100- and 200-day SMAs. For tomorrow...

June
25
2014

Wednesday, June 25, 2014 – Dec Finds Little Support Ahead of Weekly USDA Cotton Export Report, Dec Down 242 Points Over Last Two Days

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Dec gave up another 123 points today (242 points over the last two days) to settle at 75.26. The settlement was within the lower one quarter of today’s 178 point trading range (75.03 – 76.81). Although, our analysis had favored a move lower over the near-term, we had expected some modicum of support ahead of the weekly US cotton export report, but it was not to be. Technical sentiment for Dec remains bearish, with the gap (77.95 - 78.00) above the current market now threatening to be of the breakaway variety. For tomorrow...

June
24
2014

Tuesday, June 24, 2014 – Daily Cotton Producers and Ginners Edition

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Dec has given up 816 points over the last 35 trading days. Resistance was found today at 77.68 while support was found at 76.38. A gap remains above the current market (77.95 – 78.00). Traders will likely make maneuvers tomorrow ahead of the weekly US cotton export report. Given the recent steep inversion of the July – Dec spread, there seems to be an opportunity for significant sales to be logged against the current MY. For tomorrow...

June
24
2014

Tuesday, June 24, 2014 – Dec Futures Move Lower on TX Crop and Continued Showers, Monsoon Over India Continues to be Delayed

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Dec gave up up 119 points today to settle at 76.49. The settlement was within the lower one quarter of today’s 130 point trading range (76.38 – 77.68), which was completely on the negative side of yesterday’s settlement. Today’s results were on par with expectations put forth here yesterday. Technical sentiment for Dec remains bearish with today’s settlement below most referenced SMA periods. The gap (77.95 - 78.00) above the current market remains. For tomorrow...

June
23
2014

Monday, June 23, 2014 – US Crop Condition Improves, Significant Monsoon Yet to Materialize over India

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Dec picked up 60 points today on better than decent volume and traded strongly near the settlement period to settle at 77.68. The settlement was within the upper one quarter of today’s 122 point trading range (76.68 – 77.90). Technical sentiment for Dec is bearish with signs that the market is oversold evident. The gap (77.95 - 78.00) above the current market remains. The Bollinger Bands are pinching more severely, which is a reliable sign that a larger move is forthcoming. For tomorrow...