Monthly Rate Movement Report – Jul 2020
• During the month of July NY Dec Future remained volatile between a big range of 60 to 65 cents. Political tension between US China, Texas weather, WASDE lowered US cotton planting were main events of the July.
• After bullish WASDE on 10th NY Dec closed at 64.31. USDA reduces US planting area estimate and signaled lower crop of US. Also, hot weather in Texas added fuel.
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