General Comments: Futures closed higher on speculative buying. Traders note that no tropical systems have hit the state, and drier weather now might create some stress to trees. However, conditions overall remain good, with good rains before and good irrigation water available now. Production will be down due to the greening disease and some drought stress early in the year, but these losses are mostly factored into the price. Growing conditions in the state of Florida remain mostly good. Showers are reported and conditions are said to be very good in almost the entire state. Temperatures are warm. Brazil is seeing near to above normal temperatures and showers.
Overnight News: Florida weather forecasts call for some showers. Temperatures will average near normal.
Chart Trends: Trends in FCOJ are mixed. Support is at 130.00, 126.00, and 125.00 November, with resistance at 132.00, 135.00, and 139.00 November.
General Comments: Futures closed higher on follow through buying tied to ideas of poor weather in parts of the Delta and Southeast. The weather looks to be good for most of the week, but some showers could appear again on Friday and into the weekend. Traders also heard about monsoon rains in India that are slow to withdraw this year. The extra rains could really hurt quality there, and maybe yields. Worries about Chinese production are also Heard after some big typhoons passed near important production areas . Some short covering was noted on ideas that the crop is less than expected in the US, in part due to the recent big rains. US crop conditions right now are generally good with moderate to warm temperatures and dry conditions in the forecast for Texas this week and dry weather in the forecast for the Delta and Southeast. Some showers are possible in all areas by this weekend to slow harvest down and possibly create some quality concerns.
Overnight News: The Delta and Southeast will see mostly dry weather, but showers should developing the Delta on Friday. Temperatures will average above normal. Texas will see dry weather until some showers appear at the end of the week. Temperatures will average above normal this week and below normal this weekend. The USDA spot price is now 83.83 ct/lb. ICE said that certified Cotton stocks are now 0.011 million bales, from 0.011 million yesterday.
Chart Trends: Trends in Cotton are up with objectives of 8940 and 9300 December. Support is at 86.40, 85.80, and 85.50 December, with resistance of 87.85, 89.40, and 90.60 December.
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