AGL 40.02 Increased By ▲ 0.02 (0.05%)
AIRLINK 126.90 Decreased By ▼ -0.14 (-0.11%)
BOP 6.63 Decreased By ▼ -0.04 (-0.6%)
CNERGY 4.44 Decreased By ▼ -0.07 (-1.55%)
DCL 8.53 Decreased By ▼ -0.02 (-0.23%)
DFML 41.70 Increased By ▲ 0.26 (0.63%)
DGKC 86.79 Decreased By ▼ -0.06 (-0.07%)
FCCL 32.19 Decreased By ▼ -0.09 (-0.28%)
FFBL 64.82 Increased By ▲ 0.02 (0.03%)
FFL 10.15 Decreased By ▼ -0.10 (-0.98%)
HUBC 109.60 Increased By ▲ 0.03 (0.03%)
HUMNL 14.62 Decreased By ▼ -0.06 (-0.41%)
KEL 5.10 Increased By ▲ 0.05 (0.99%)
KOSM 7.44 Decreased By ▼ -0.02 (-0.27%)
MLCF 41.30 Decreased By ▼ -0.08 (-0.19%)
NBP 59.79 Decreased By ▼ -0.62 (-1.03%)
OGDC 193.85 Increased By ▲ 3.75 (1.97%)
PAEL 28.14 Increased By ▲ 0.31 (1.11%)
PIBTL 7.75 Decreased By ▼ -0.08 (-1.02%)
PPL 150.79 Increased By ▲ 0.73 (0.49%)
PRL 26.42 Decreased By ▼ -0.46 (-1.71%)
PTC 16.11 Increased By ▲ 0.04 (0.25%)
SEARL 78.49 Decreased By ▼ -7.51 (-8.73%)
TELE 7.46 Decreased By ▼ -0.25 (-3.24%)
TOMCL 35.32 Decreased By ▼ -0.09 (-0.25%)
TPLP 8.23 Increased By ▲ 0.11 (1.35%)
TREET 15.96 Decreased By ▼ -0.45 (-2.74%)
TRG 52.63 Decreased By ▼ -0.66 (-1.24%)
UNITY 26.63 Increased By ▲ 0.47 (1.8%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,936 Increased By 52.8 (0.53%)
BR30 30,919 Increased By 319.2 (1.04%)
KSE100 93,866 Increased By 510.5 (0.55%)
KSE30 29,076 Increased By 145.5 (0.5%)

US cotton futures jumped 1 percent on Tuesday, joining a rally on most agricultural products, as metals and energy assets saw a sell-off by investors trying to scale back exposure on risky markets. Traders said cotton also benefited from technical buying ahead of a key government plantings report due Friday.
Which is expected to cite a smaller area under cotton than initially forecast owing to weather and other complications. "There was certainly some hedging going on in relation to the plantings report, but part of today's rise had to do with the broader run-up in softs and ags as metals and oil took a hit," said a cotton trader in Georgia.
The New York Board of Trade's key December cotton contract settled up 0.66 cent at 61.45 cents per lb, after trading between 61.00 and 61.70 cents. The back months closed up 0.60 to 0.70 cent. IntercontinentalExchange's NYBOT electronic cotton market showed the December contract up 0.46 cent at 61.25 cents at 2:50 pm EDT (1850 GMT).
The US Department of Agriculture is expected to declare a total area of 11.72 million acres under cotton in its report on Friday, marking a drop of about 430,000 acres from a March survey, industry analysts said. The latest forecast has kept NYBOT's December contract above the key technical level of 61 cents a lb since June 20. Volume in NYBOT cotton on Tuesday was estimated at 11,220 lots. Open interest fell 1,435 lots to 202,316 lots.

Copyright Reuters, 2007

Comments

Comments are closed.