By Keith Brown
DTN Contributing Cotton Analyst
The cotton market had a wild session Friday, moving from limit-up bid to lower, and then slightly higher at the close. After a night of potential strong Chinese buying, ICE Futures were limit up, however, traders became disappointed with USDA’s weekly export-sales data.
Those numbers show sharply lower sales and starkly lower shipments. Thus, profit taking emerged, sending prices down. However, given that the trend remains undeniably up, the market did regroup to finish higher.