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DTN Closing Cotton            11/25 13:46

   Cotton Lower in Listless Holiday Trade  

   Cotton futures settled slightly lower Wednesday with light volume as traders 
were all but gone for the Thanksgiving break. 

Keith Brown
DTN Contributing Cotton Analyst

   Cotton futures settled slightly lower Wednesday with light volume as traders 
were all but gone for the Thanksgiving break. Wednesday's estimated volume was 
a slow 13,000 contracts. The market will trade an abbreviated session Friday, 8 
a.m. to 1:30 p.m. We will also see a weekly exports sales report at 7:30 a.m. 
CST Friday, delayed from Thursday because of the holiday. 

   Into next week, the market will enter a new trading month. Of course, it was 
December 2019 when the cotton market enjoyed a huge upside run, topping at 
74.00 cents, as traders were dialing in the potential effects of the U.S./China 
phase-one deal. Since that time, the market has been to hell and back, with 
COVID, the shuttering of the U.S. economy, and the election. Hopefully, 2021 
will emerge as a stronger commodities year. 

   However, as the market enters the last Friday of November, March cotton 
stands down 60 points on the week, but up 258 monthly, and plus 156 on the 
year. Spot December remains in delivery until its expiration on Dec. 8.

   Today, March cotton closed at 72.36 cents, down .62 cent; July 21 settled at 
73.89 cents, off .58 cent; December 21 ended at 70.73 cents, minus .30 cent. 
Wednesday's estimated volume was 13,280 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com or by calling 
(229) 890-7780.




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