By Julie Wernau
Cotton futures were on track to rise for the first time in three sessions during a week of low volume trade.
Cotton for March delivery was up 0.1% at 69.81 cents a pound on the ICE Futures U.S. exchange.
With the U.S. cotton harvest completed, year-end is typically a quiet time in the cotton market with the results of the U.S. Department of Agriculture's survey of planting projections for the next season not yet released and weekly progress updates about the state of the U.S. crop finished for the season.
"The U.S. harvest should be over and offers should start to decrease in domestic cash markets," said Jack Scoville, vice president of Price Futures Group in Chicago.
The Rose Report on cotton cautioned that the cotton contract is still heavily skewed toward bullish speculators and "warrants extreme caution when entering this market on the long side."
In other markets, raw sugar for March rose 0.8% to 18.69 cents a pound, cocoa for March was down 0.9% at $2,217 a ton, arabica coffee for March was flat at $1.3425 a pound and March frozen concentrated orange juice futures slumped 0.6% to $1.881 a pound.
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(END) Dow Jones Newswires
December 28, 2016 11:16 ET (16:16 GMT)
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