Intercontinental Exchange (ICE) cotton futures closed mixed Thursday

Intercontinental Exchange (ICE) Cotton (11845, -20.00, -0.17%) futures closed mixed Thursday, as most investors wait for tomorrow and next week will announce a series of crop reports. CTH9 cotton in March or 0.04 cents to close at 49.71 cents a pound, set within the range of 49.45-50.08 cents trading.

As of 1945GMT, 3-month period for the 7685 volume of cotton. CTK9 cotton in May fell 0.24 cents to settle at 50.34 cents per pound. The market from the U.S. Department of Agriculture (USDA) weekly export sales report was not too many guidelines . USDA said that the recent week-long cotton sales total 98,200 bales last week, was 11.7 million bales. traders previously expected to be between 50000-150000 package.

The United States exports of cotton shipment reached 205,800 bales higher than last week’s 138,400 bags, traders estimated at 130000-150000 between packets. Analysts said the market had been concerned about the announced next Tuesday the United States Department of Agriculture (USDA) monthly supply / demand report. More importantly, the U.S. National Cotton Council will be closed Friday after the publication of 2009 annual survey of cotton.

Flanagan Trading brokerage firm is expected in March cotton resistance in 50.50 cents and 51.60 cents, support and 48.95 cents at 49.60 cents. Exchange data show that the overall trading volume Wednesday cotton reached 16,874. As of February 4 day, the volume of open positions from Tuesday’s 128,412 to 129,209.