*ICE COTTON SUMMARY*
*Cotton rises over 1%*
*ICE cotton futures rose more than 1% on Tuesday, with mills taking advantage of a steep fall in the previous session to buy back some of the natural fiber, while a weaker dollar offered further support.*
*“People that are looking to get back in the market are taking advantage of these lower prices that we haven’t seen in a month or two. It could be related to new speculators or also could be related to some mill fixations,” Bailey Thomen, cotton risk management associate at StoneX Group said.*
*“Also the US dollar has pulled back a little bit which is helping commodities. However, the cotton market is still susceptible to a further sell off from some of these outside market forces”*
*The dollar slipped 0.1% against its rivals after touching a near one-month peak on Monday, making cotton less expensive for buyers holding other currencies.*
*World stock markets stabilized after a sharp sell-off, as investors assessed the level of contagion stemming from distress of debt-saddled property group China Evergrande.*
*Total futures market volume fell by 35,805 to 17,827 lots. Data showed total open interest fell 8,727 to 263,976 contracts in the previous session.*
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