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July 03, 2023
The sentiment that generated $5.26 in cumulative gains over the past 5 days was further evident for Cotton. Today's session so far looks to be heading in the same direction — after closing the previous trading day at $81.58, the Cotton future is up to $82 per pound, which makes for a move of 0.51%/42 cents today.
United States ISM Manufacturing PMI (Jun) is next today at 14:00 UTC.
Rallies can also be seen in other Softs, Coffee gained 0.75% and is currently trading at $160.2.
Meanwhile, after ending Friday's session at $3,353, Cocoa lost $39 and is trading around $3,314.
The market is looking forward to the release of new data: United States ISM Manufacturing PMI (Jun) will be released today at 14:00 UTC.
The commodity has been trending lower for about a month. Cotton reached a significant high of $122.25 around 10 months ago but has lost 33.27% since then.
