Wow! Talk about a $1000+ trading range. Appears we have another tug-of-war going on in this market (see my previous comments on Soy). Another little "snippet" for your reading enjoyment:

There wasn’t any bullish news but March cotton rallied sharply anyway on, you guessed it, fund buying, which may have been more rebalancing out of expensive markets into cheaper agricultural commodities. We don’t agree with the “logic” that all commodities, even ones with ample or burdensome supplies, should perform well this year, but there’s a lot of managed money out there
to push prices higher.

By the way, why do these funds appear to be "rebalancing out of expensive markets"? Losses? Too much risk? Re-aligned opportunities? Trying to look creative in a Monday morning staff meeting?

Not that it matters, I guess, but I wonder about things like that.

Happy trades!

Joe