Cotton continues to trade steady.

In Grain Futures | Market Analysis | Softs Futures
by John Flanagan at 9:35 am on February 2, 2012

Cotton prices were steady on Wednesday and are trading steady this morning. There were 152,400 bales of cotton cancelled from export sales in the past week, nearly all because of Chinese cancellations. Shipments reached a marketing year high of 386,700 bales. The US Dollar Index is up 14 points at 79.17. Crude oil is down $1.20 at $96.40. March soybeans were down 8 ¼ cents overnight at $12.07. Soybean export sales of 308,400 tons was at the low end of expectations. There were 60,000 tons of new crop beans sold. March corn was down 6 ¼ cents overnight at $6.35 ¾. Corn export sales of 912,000 tons were at the high end of expectations. There were 63,000 tons of new crop corn sold. March wheat was down 9 ¾ cents overnight at $6.64 ½. Wheat export sales of 518,900 tons was within expectations.

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