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Re: CT 15min WASDE Report ( Jack )

The move higher this week has been entirely relate4d to the on call position, the move down today is due to the USDA reports and also some of the mills probably got covered. The down move is extreme today because the up move has been extreme. That being said I feel like the down side is limited. Increased China supplies are not available to the market and can be removed. India sources are cutting production more than USDA and I think Indian production will come off in the next few supply and demand reports. The US has plenty of Cotton, but quality is suspect after the hurricanse and the freeze, so I think ICE will stay relatively strong to generate quality Cotton into certified stocks. The swing targets on the upside were about 8400 on the weekly charts, next would be 9300. We made 8400 and then some today, I am not sure if the cotton situation is bullish enough for 93. I was telling some guys to look at puts this morning, not sure if they did or not, but it seems like a good idea. But, given the short bought nature of the US industry I would think 80 would provide a lot of support and i doubt we get much cheaper than that right away with even more support down to7800

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CT 15min WASDE Report *NM* *PIC*
Re: CT 15min WASDE Report
Re: CT 15min WASDE Report
Re: CT 15min WASDE Report ( Jack )
Re: CT 15min WASDE Report ( Jack )
Re: CT 15min WASDE Report ( Jack )