Never make the mistake of thinking fundamentals do not rule cotton’s price roost. Economic fears and that ole supply and demand are in charge.
With less than a month before the July contract expiry begins, Dr. O.A. Cleveland looks for futures prices to hang close to the high end of the current trading range.
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.