Cotton prices higher on strong financial markets.
Cotton prices moved lower on Friday but are trading 130 points higher this morning, largely on positive outside markets. Financial markets are buoyed by a better than expected Chinese GDP of 8.9%. There may also be some residual Index Fund buying in cotton. The US Dollar Index is down 44 points at 81.35. Crude oil is up $1.62 at $100.32. March soybeans were up 18 ¼ cents overnight at $11.76 ½. March corn was up 8 ¼ cents overnight at $607 ¾. March wheat was up 9 ½ cents overnight at $6.11 ¾.
FLANAGAN TRADING CORPORATION
4901 Draycroft Place, Fuquay-Varina, North Carolina, 27526
Tel: 800-830-0539 or 919-557-8200 E-mail: cottonjohn@aol.com
Cell: 919 801 1567
