DTN Morning Cotton Commentary          11/26 08:06

   Cotton Inches Up

   The cotton market is working on its third higher consecutive session today, 
albeit on holiday volume and tight ranges. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is working on its third higher consecutive session today, 
albeit on holiday volume and tight ranges. Traders are squaring positions ahead 
of what will be for some a long holiday period. The market will have an 
abbreviated session on Friday.

   The CFTC published another scheduled catch-up Commitment of Traders report 
Tuesday. Its data showed that the managed-money funds unfurled a new record 
net-short position in excess of 80,000-plus contracts.

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

   The market will be closed Thursday in observance of Thanksgiving. There will 
be a delayed opening on Friday with trading starting at 8 a.m. EST and will 
close early at 1:30 p.m. EST.

   Daily chart support for March cotton stands at 63.80 cents and 63.45 cents, 
with resistance at 64.70 cents and 65.20 cents. Wednesday morning's estimated 
volume is 5,468 contracts.

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




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