General Comments: Futures closed a little higher as what appeared to be commercial buying surfaced after the market made new lows for the move. Trading was more animated as the government opened again and traders found they could look forward to new harvest and crop data soon. USDA will start announcing news as early as today, but it will take into next week to get things fully functional again. The lack of USDA reports has greatly reduced volume as traders did not know exactly what is going on. Brazil conditions are reported to be very good in Bahia. US crop conditions right now are generally good in Texas. The Delta and Southeast are reporting generally favorable conditions as well. Trends turned down on the charts with the price action this week.
Overnight News: The Delta will be dry and Southeast will see showers today, then mostly dry weather. Temperatures will average near to above normal. Texas will see light showers Friday, otherwise dry weather. Temperatures will average near to below normal. The USDA spot price is 80.01 ct/lb. today. ICE said that certified Cotton stocks are now 0.048 million bales, from 0.38 million yesterday.
Chart Trends: Trends in Cotton are mixed to down with no objectives. Support is at 82.90, 82.50, and 81.70 December, with resistance of 84.20, 85.50, and 85.80 December.
General Comments: Futures closed lower again as the weather stays tranquil in Florida and as demand appears to be poor. There will be less production this year due to greening disease and some unfavorable weather earlier in the year, but has no reason to rally as demand remains mostly on the weak side and there have been no tropical systems to hit the state. 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. Dry weather has returned 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. It should be drier this weekend.
Overnight News: Florida weather forecasts call for mostly dry conditions. Temperatures will average near to above normal.