COTTON
General Comments: Cotton was lower last week on chart based selling and on the FED raising interest rates to fight inflation. Some selling came in front of the Chinese summit this week. The weekly export sales report was bad. Trends in the Dollar Indes are starting to turn up and trends in Cotton are starting to turn down. USDA cut yield and harvested area for production of 13.2 billion bales. Domestic demand was trimmed but exports were unchanged and ending stocks were estimated at 369 m...
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