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NY cotton futures book modest gains this week
18 Apr '14
1 min read
NY cotton futures gained moderately during this shortened trading week after settling the lowest in a month on Friday last week out of demand concerns.
May contract settled at 90.17usc/lb today, up 115 points from a week ago.
We are three trading sessions away from May first notice day with its open interest currently standing at less than 19k contracts as of yesterday, and liquidation of the spot month is under way in an orderly manner.
The K/N spreads widened to over 200 points in carry today and spread trading continues at a good pace.
Export report saw an improvement than a week ago with 95k running bales in sales upland and Pima combined. Shipments continue to be decent at close to 300k running bales.
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