Thunderstorms produced some heavy weekend rains, pounding hail and damaging winds on the Texas Plains. Trend-following funds reduced their net longs to the lowest since May 24, 2016.
Cotton futures ticked lower early Monday on this first trading day of a new month and new quarter, giving back some of the prior-session gains.
December hovered off 38 points to 68.21 cents, trading within a 58-point range between 68.01 and 68.59 cents on a contract volume of 2,439 lots. March dropped 51 points to 67.06 cents, near the low of its 61-point range between 67.01 and 67.62 cents on a turnover of 591 lots.
Source: www.agfax.com