Cotton Extending Gains to Tuesday

Cotton futures are up 50 to 60 points so far on Tuesday, following the Monday strength. Crude oil futures were back down 42 cents per barrel at $57.90. The US dollar index is up $0.328 at $98.310. Export sale commitments for cotton have reached 6.5 million RB as of 12/25, down 15% from the same week last year. That is 57% of the USDA estimate and well behind the 75% average pace to meet that projection. More News from Barchart Commitment of Traders data showed managed money cutting 1,368 contracts fro ...