Cotton futures remained nearly flat for the second straight session on Tuesday, ahead of the first notice day for the December contract and amid a steady dollar. The trade is buying the December contract and selling the March contract before the first notice day on Wednesday, said Jobe Moss, a broker with MCM Inc in Lubbock, Texas.
"Once you get this day over with, we are going to find out what cotton's really worth. We'll probably see the March contract having a hard time holding these level
Cotton futures edged lower on Friday on profit-taking, snapping a four-day rally one day after the market had touched its highest point in more than three months amid a stronger dollar. The March cotton contract on ICE Futures US, however, registered its biggest weekly gain in five weeks and was up 4.8 pct for the week.
Speculators were wary of adding to their positions on a Friday and ahead of a short holiday week in the United States and the first notice day of December contract next week,
