DTN Morning Cotton Commentary          01/20 07:32

   Cotton Up Tuesday; World Down 

   The cotton market is slightly higher Tuesday amid a weaker U.S. dollar and a 
potential spat over Greenland. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is slightly higher Tuesday amid a weaker U.S. dollar and a 
potential spat over Greenland. There were economic threats from both sides, as 
the U.S. and Europeans fuss over the ownership of Greenland. Thus far, the U.S. 
dollar and the Dow Jones are measurably lower, while gold and silver have 
spiked to all-time highs.

   Friday's CFTC update of its Commitments of Traders data showed the 
managed-money funds had net-sold some 2,600 positions. Their actions increased 
their net-short position to 50,372 contracts. Their record stands at 
81,000-plus contracts net-short.

   With the observance of the Martine Luther King Day holiday on Monday, most 
government reports will be delayed a day. Thus, weekly export sales will be 
released this Friday at 8:30 a.m. EST.

   Chart support for March cotton stands at 64.50 cents and 64.00 cents, with 
resistance hovering about 65.25 and 65.80 cents. Tuesday morning's estimated 
opening volume is 11,675 contracts.

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




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