ICE cotton futures posted modest gains as traders reduced short positions amid improved market sentiment and healthy trade-side activity.
The rally was driven by short covering rather than fresh buying, with spot trading offering fundamental support.
CFTC data showed a sharp fall in speculative net shorts, signalling easing bearishness.
However, demand concerns persist.
The rally was driven by short covering rather than fresh buying, with spot trading offering fundamental support.
CFTC data showed a sharp fall in speculative net shorts, signalling easing bearishness.
However, demand concerns persist.