DTN Morning Cotton Commentary          07/14 07:11

   Cotton Up With Outside Markets

   The cotton market, along with other U.S. row crops, initially were lower 
Sunday night amid the new tariff actions taken by President Trump.

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market, along with other U.S. row crops, initially were lower 
Sunday night amid the new tariff actions taken by President Trump. However, 
this morning, the possibilities of new Russian sanctions has crude oil up, and 
this is positively influencing those aforementioned markets. Also, traders are 
awaiting key inflation data out this week, in addition to other reports.

   Saturday, July 12, President Trump announced new tariffs of 30% being placed 
on Mexico and the European Union. The new levies will commence on Aug. 1. Just 
last week, he placed tariffs on Canada and Brazil.

   On Tuesday, a new CPI (consumer inflation) will be issued at 8:30 a.m. EDT. 
CPI, month-over-month, is expected at +.3% (+.1% last month), core CPI, 
month-over-month, is also expected at +.3% (+.1% last month). CPI, 
year-over-year, is expected at +2.6% (+2.4% last month), core CPI, 
year-over-year, is expected at +2.9% (+2.8% last month).

   On Wednesday, a fresh PPI (wholesale inflation) will be reported. That 
number will be out at 8:30 a.m. EDT.

   The CFTC updated its Commitment of Traders data last Friday. For the week, 
the managed-money funds sold some 3,100 positions, increasing their net-shot 
carry to 46,090 contracts.

   Daily chart support for December cotton stands at 67.00 cents and 66.70 
cents, with resistance at 68.10 cents and 69.00 cents. Monday morning's 
estimated volume is 5,105 contracts.

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




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