Cotton is holding Friday’s gains.

In Grain Futures | Market Analysis | Softs Futures
by John Flanagan at 9:38 am on January 9, 2012

Cotton prices rallied on Friday and are trading a little higher this morning. The US Dollar Index is down 18 points at 81.42, though there are concerns regarding the EU debt problems. Crude oil is up 25 cents at $101.80. March soybeans are up 10 ¼ cents at $12.06 ¾. March corn is up 8 ½ cents at $6.52. The South American forecasts have reduced the amount of rain that Argentina is expected to receive between now and Wednesday and forecast another heat dome to settle in after the cold front passes through. Reports from Germany say they may need to import grain for the first time in 25 years. March wheat was up11 cents at $6.35 ¾. China’s cotton prices were modestly higher.

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