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Barchart
Barchart
Austin Schroeder

Cotton Mixed to Start Tuesday Trade

Cotton United States Ice crude oil Oil US Dollar

Cotton prices action is mixed on Tuesday morning trade, with contracts up 24 points to 14 points lower. Futures 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 average. 

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