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Cotton Higher 6th Day In A Row

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Cotton Futures--- Cotton futures in the December contract is trading higher for the 6th consecutive session hitting a 3 month high all due to the fact of Hurricane Harvey possibly destroying up to 600,000 acres pushing prices sharply higher over the last several weeks as it certainly looks to me that the 66 level has formed a long-term bottom.

The commodity markets in general have started to rally as the agricultural sector had been extremely weak over the last several weeks, but now has finally turned the corner as the U.S dollar has hit a fresh 2 year low in today's trade as I'm not currently involved in cotton as the 10 day low stands at 67.35 as the risk is around $2,700 per contract plus slippage & commission which is too high at this point, however keep an eye on this market for some type of price retracement as we will be looking at a bullish position in the days ahead.

Cotton is trading above their 20 & 100 day moving average as the trend has turned higher as traders are awaiting the highly anticipated USDA crop report which will be released in the next week as the last report sent prices down 300 points as volatility will remain in this market for months because of the situation in the southern part of the United States.TREND: HIGHER---CHART STRUCTURE: POOR

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit

Skype Address: mseery




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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