ICE cotton futures rose more than 1 percent to their highest in over eight months on Friday in high volume trade on a weaker dollar and buying ahead of Britain's June 23 referendum on whether to stay or leave the European Union. "A lot of money exiting a lot of stock funds because of the Brexit vote next week, and they're just buying agricultural commodities," said Keith Brown, principal at cotton brokers Keith Brown and Co in Moultrie, Georgia.
The December cotton contract on ICE Futures US
Cotton futures fell for the fourth straight session on Tuesday on a stronger dollar and US Department of Agriculture data showing strong progress in the US harvest of the natural fibre. Cotton harvest conditions improved to 53 percent from good to excellent, compared with 47 percent last week, the USDA data showed. The better-than-expected US crop condition ratings caused "speculative liquidation," said Louis Rose, independent cotton trader and consultant with Risk Analytics in Memphis, Tennesse
