Cotton futures are posting 15 to 30 point losses so far on Monday. Early on Monday morning, President Trump put out a Truth Social post ordering the military to postpone strikes against Iranian power plants and energy infrastructure for 5 days after weekend tales were “good and productive.” Iran state media responded stating there was no direct or indirect contact with the President. Oil is down $9.03 at midday.
Commitment of Traders data showed specs liquidating a large portion of their net short position in the week ending on 3/17, cutting it by 26,549 contracts. That was the largest Tuesday/Tuesday.
