The New York Board of Trade (NYBOT), a unit of electronic market Intercontinental Exchange, said electronic and open-outcry trading in the cotton market will open on Friday at 10:30 am EDT (1430 GMT). Normally, the electronic market cotton would begin trading at 1:30 am.
The exchange said in a statement it "closed the electronic market" for cotton futures on Thursday after the market traded the 3.00-cent limit following a sell-off in the commodity markets caused by a global credit crisis. "On Friday, the cotton markets will be available for pre-open at 10 am and both floor and screen trading will open for trading at 10:30 am," it said.
NYBOT COTTON STOCKS RISE Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of August 16 totalled 678,143 (480-lb) bales, from 677,738 bales the previous session. There were 3,513 bales issued, 18,261 bales awaiting review and 230 bales were decertified.
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