Cotton rises ahead of export-sales report

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New York. ICE cotton futures climb a day ahead of a US-cotton export report that is expected to show another week of strong sales as prices dipped below 88c/pound. Still, some market participants are not biting in the futures pits since prices have declined so sharply the past year. “No one wants to stick their foot in front of a train that’s heading south,” says Sharon Johnson at Penson Futures. “The specs have not yet been deterred from carrying these short positions.” May cotton futures rise 1.3% today to 89.11c.

Source: http://www.moneycontrol.com/commodity/comm_news.php?autono=173686&type=MKT

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