DTN Morning Cotton Commentary          11/28 07:08

   Cotton Sees Post-Holiday Increase

   The cotton market is slightly higher Friday, as the trading session will be 
abbreviated, and likely low volume. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is slightly higher Friday, as the trading session will be 
abbreviated, and likely low volume. In addition, there is a major computer 
outage in Chicago which has halted trading in many financial and other 
commodities markets.

   In observance of the Thanksgiving Holiday, the ICE Exchange initiated cotton 
trading Friday at 8 a.m. EST and will close early at 1:30 p.m..EST

   Spot December is in its delivery period, but there were zero notices issued 
for Friday. Thus far, the total notices tendered stand at 171 contracts. 
Delivery runs through Dec. 7.  

   The CFTC will publish its regular Commitments of Traders report this 
afternoon at 3:30 p.m. EST. Its previous catch-up release on Wednesday showed 
managed-money funds posted a new record net-short position in excess of 
80,000-plus contracts.

   The 6- to 10-day forecast (Dec. 3-Dec. 7) shows slightly above-normal 
temperatures for Texas and the lower Southeast. However, the Delta will 
experience much-below normal readings. Rain-wise, Texas will have slight 
opportunities, while the lower Delta, and Southeast are set to have just 
above-normal chances.     

   Daily chart support for March cotton stands at 63.60 cents and 63.10 cents, 
with resistance at 64.70 cents and 65.20 cents. Friday morning's estimated 
opening volume is 565 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com or by calling 
(229) 890-7780.




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