ICE cotton futures rose to their highest level in nearly two weeks on Friday after a US Department of Agriculture (USDA) report showed strong export sales last week, but prices pared gains later in the session. "Now, we're exceeding USDA projections pretty good," said Michael Quinn, president and chief executive officer of Carolinas Cotton Growers Co-operative, noting that the USDA would likely have to lower its forecast for year-end US inventories as a result of the strong export sales in recen
ICE cotton futures were little changed on Tuesday after a sharp week of losses brought prices back to attractive levels for mill purchases, ending the losing streak, though sharp gains in the US dollar pressured the market. "We've gotten down to levels where we're probably picking up some business," said Jobe Moss, a broker with MCM Inc in Lubbock, Texas, adding that the dollar's strength tempered cotton's gains.
A stronger greenback pressures dollar-traded commodities like cotton by making
