Cotton prices are up 63 to 87 points so far on Monday after gapping higher overnight, Futures were down 10 to 62 points in the front months, with other contracts up 6 to 26 points. July was down 127 points last week, with December up 26 points. The US dollar index was $0.044 lower at $98.925. Crude Oil was a pressure factor, down $1.14/bbl, money was flowing out ahead of the weekend. However the proposed agreement between the US and Iran was not yet agreed to, as President Trump sent a revised proposal back over the weekend.
Commitment of Traders data showed managed money cutting back 7,845 contracts of futures and options from their net long in cotton as of Tuesday, taking it to 54,200 contracts.
