Cotton

Cotton futures are trading 53 to 60 points higher ahead of the weekly Export Sales report. They closed 28 to 122 points higher on Wednesday. As expected, the Federal Reserve increased the short term interest rate target 0.25% and affirmed intentions for three rate hikes in 2018. In buy the rumor sell the fact action following the announcement, the US dollar was down 671 points, providing some support for commodities. The dollar is close to UNCH this morning. The Cotlook A index was down 75 points from the previous day to 83.45 cents/lb on December 12. Online cash sales of cotton rose to 21,066 bales on the Seam, with prices 79 points higher at 69.23 cents/lb.




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