General Comments: Futures were mostly a little higher in quiet trading. Interest has left the market in many ways, as many feel prices are too low to sell short again, but there are few who see any reasons to buy for the longer term. Arabica cash markets remain quiet right now and Robusta selling interest has become less, as well. Most sellers, including Brazil, are quiet and are waiting for futures to move higher. Buyers are interested on cheap differentials. Brazil weather is forecast to show dry conditions, but no cold weather. There are some forecasts for cold weather to develop in Brazil at the end of this week, but so far the market is not concerned. Current crop development is still good this year in Brazil. Central America crops are seeing good rains now. Colombia is reported to have good conditions.
Overnight News: Certified stocks are little changed today and are about 2.748 million bags. The ICO composite price is now 116.04 ct/lb. Brazil should get dry weather except for some showers in the southwest. Temperatures will average near to above normal. Colombia should get scattered showers, and Central America and Mexico should get showers, with some big rains possible in central and southern Mexico and northern Central America. Temperatures should average near to above normal.
Chart Trends: Trends in New York are mixed to down with objectives of 121.00 September. Support is at 122.00, 119.00, and 116.00 September, and resistance is at 126.00, 127.00, and 129.00 September. Trends in London are mixed. Support is at 1730, 1705, and 1670 September, and resistance is at 1775, 1800, and 1850 September. Trends in Sao Paulo are mixed to down with no objectives. Support is at 147.00, 144.00, and 140.00 September, and resistance is at 151.00, 155.00, and 159.00 September.
General Comments: Futures were lower on what appeared to be long liquidation from speculators and perhaps some farm selling. Ideas of better weather in production areas were negative for prices. Some storms are moving through western Texas and conditions there are improving. Good weather is being reported in the Delta and Southeast as well. The weather has improved, and looks to improve conditions generally through the rest of the week. Scattered showers are forecast for the Delta and Southeast, and wetter and warm weather is expected in Texas. Weather for Cotton appears good in India, Pakistan, and China. It is possible that futures made at least a short term high on Friday.
Overnight News: The Delta and Southeast will see some showers this weekend. Temperatures will average above normal. Texas will get showers today, then dry weather. Temperatures will average above normal. The USDA spot price is now 82.74 ct/lb. ICE said that certified Cotton stocks are now 0.545 million bales, from 0.544 million yesterday.
Chart Trends: Trends in Cotton are mixed to down with no objectives. Support is at 87.05, 86.75, and 85.60 October, with resistance of 90.10, 90.50, and 91.40 October.
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