The cotton market continues to trade in a price equilibrium cavity of 82-90 cents. But without demand, a bullish market cannot exist. There is no buying to push prices higher.
Hopefully, USDA’s September supply demand report will provide additional price direction. Yet growers should be aggressive sellers on any move above 87.50.
Cotton had a monumental week, touching 90 cents and settling at 89.95 – the best move in nearly a year.