Cotton trades 30 lower this morning.

In Grain Futures | Market Analysis | Softs Futures
by John Flanagan at 9:41 am on February 14, 2012

Cotton prices gained on Monday but are trading 30 lower this morning. The amount of cotton certified for delivery has doubled recently to 111,458 bales. It appears that merchants might use deliveries to force full carry into the market. There should be pressure on the March contract between now and first notice day of deliveries, Feb 23, as growers sell their cotton and speculators move out of March futures. The US Dollar Index is up 26 points this morning at 79.31. Crude oil is up 71 cents at $101.63. March soybeans were up 2 cents overnight at $12.54. Dry weather in South America during pod filling is supporting beans, along with expectations that a Chinese trade delegation will make large purchases of beans. March corn was down 3 ¾ cents overnight at $6.35 ¾. March wheat was down 4 ¾ overnight at $6.36 ½.

FLANAGAN TRADING CORPORATION

4901 Draycroft Place, Fuquay-Varina, North Carolina, 27526

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