Oversupply Of Cotton During The Period Was Limited By Fourth Consecutive Days.

According to the news, ICE cotton futures rose on Tuesday for fourth consecutive days, but due to worries about global oversupply, it was worse than other commodities.

Index ICE12 months

The contract closed up 0.8%, and the settlement price was 72.60 cents per pound, holding the two week high hit on the previous day.

Because tomorrow is the National Day holiday in the United States, the market volume is reduced.

Raised by the rise in grain prices, worries surrounding high temperatures and damage to crops have boosted grain growth.

Soybean prices jumped to the highest level since 2008.

The performance of cotton is inferior to that of the bulk commodity market, because investors are worried about global oversupply.

The Jefferies commodity research index (CRB) rose more than 2% on Tuesday to a six week high, boosted by the strengthening of the euro and shorting up.

The hot and dry weather that ravaged the American corn belt did not affect cotton growing areas, but traders said they expected rain in major cotton growing areas such as Tennessee, Mississippi and Louisiana.

"Central and southern regions have not been rained for three weeks, though not too serious, but they are also worrying.

If there is no rain next week,

It will begin to rise, "a major US dealer said.