USDA’s May supply and demand report takes some of the bearish tone out of the market. Yet, oversupply and continuing economic factors will continue to limit any price advance.
It was a great end to the week for cotton, says Dr. O.A. Cleveland. But the six-month trading range of 78-85 cents remains unbroken.
Cotton growers simply hope for higher prices, but Dr. O.A. Cleveland says the market doesn’t care. Now is the time for growers to take what they can get above 81 cents.