Vigotex - Cotton News 26/09/2022

Hi our beloved customers:

We would like to update cotton news by Vigotex:

• ICE 2022 Dec/ 12月/ Tháng 12: Closed/收于/Chốt phiên 92.54 c/lb, -4.00 cents/ 美分/ điểm;
• ICE 2023 Mar/ 3月/ Tháng 3: Closed/收于/Chốt phiên 89.67c/lb -4.00 cents/ 美分/ điểm;
• ICE 2023 Mar/ 7月/ Tháng 7: Closed/收于/Chốt phiên 84.78 c/lb, -4.00 cents/ 美分/ điểm;

Estimated volume/ 估计数量/ Khối lượng giao dịch ước tính: 21.923 contracts/ 合约 / hợp đồng.

The cotton market repeated its action of last Friday by finishing limit-down today. The market was pressured by a collapsing Dow Jones and a very strong U.S. dollar. Of course, the weaker Dow reflects the poor psychology of the U.S. economy, while a stout dollar potentially undercuts future U.S. agricultural export prospects.

This afternoon at 3:30 p.m. EDT, the CFTC will issue its weekly Commitments of Traders report. As of last count, the managed-money funds were 48,000 or so contracts net long. Of course, with the data gathered as of Tuesday's settlement, plus the limit-down move of today, those speculators may now be even less long.

Monday, USDA will update the progress of the 2022 crop. At last count, the "bolls open" category stood at 59%, while the crop's condition was 33% good/excellent versus 35% two weeks prior.

 December Cotton ended 675 points lower for the week, over 2,067 points for the month, and for the first, it was down 11 points on the year.