This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cotton Rises, Dollar Gains: Market Bits

NEW YORK ( TheStreet) -- Soft commodities led the way in the commodities space Thursday, with cotton being one of the most noticeable gainers.

Cotton prices have nearly doubled in the last 12 months, driven by a number of weather, harvesting, competing crop, post-recession and country-specific or government-related issues.

Cotton for May delivery popped by the exchange limit of 7 cents, or 3.5%, to $2.076 a pound Thursday, hitting a five-day high.

"Cotton is creeping back toward recent highs, but we do not see the same buying conviction we saw on the previous upswing," Waverly Advisors strategist Andrew Barber said in a client note. "Existing longs should plan to aggressively protect profits if the bulls stumble and this market sells off."

On Thursday, the U.S. Department of Agriculture reported that net cotton Upland sales for the week ending Feb. 24 were up noticeably from the previous week and up 50% from the prior 4-week average.

The iPath Dow Jones-UBS Cotton Subindex Total Return ETN (BAL) finished Thursday's trading session at $108.08, up 1.7%.

The U.S. dollar was gaining against the Swiss franc Thursday, rising 0.8% at CHF 0.9312 as the Swiss franc retreated from a record high.

"As the rally remains overbought, we may see the USD/CHF consolidate heading into the end of the week," said the DailyFX Research Team. "In turn, the dollar-franc is likely to maintain a narrow range ahead of the U.S. employment report on Friday."
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FXF $101.17 0.57%
TUZ $51.11 0.04%
SCPB $30.61 -0.03%
UUP $24.66 -0.16%
BAL $42.61 3.47%


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs