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Austin Schroeder

HISTORICAL FACTS: Cotton rally extends to monday | History Defined

Cotton United States Oil Iran US Dollar

Cotton extended the gains to Monday, with contracts up 64 to 131 points at the close. The US dollar index was $0.230 lower at $98.420. Crude oil was up just $1.42 on the day, coming well off the highs, following the breakdown of US/Iran negotiations this weekend. Pressure came later in the session after President Trump stated Iran was wanting to make a deal.

The weekly NASS Crop Progress report from Monday showed the US cotton crop at 7% planted as of Sunday, matching the 5-year average.

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