Investing.com - U.S. soft futures were mixed in rangebound trade on Monday, with cotton prices easing off a nine-week high as investors booked profits after recent gains.
Trading volumes are expected to remain light as agricultural commodity markets will remain closed for Christmas on Wednesday, with many traders taking the whole week off.
On the ICE Futures U.S. Exchange, cotton futures for March delivery traded at USD0.8158 a pound, down 1.85%. Cotton prices traded in a range between USD0.8149 a pound and USD0.8308 a pound.
The March contract rallied to USD0.8385 a pound on Friday, the highest since October 18, before turning lower to settle at USD0.8315 a pound, down 0.22%.
Indications of robust demand from top consumer China have been supporting prices of the fiber in recent sessions.
Meanwhile, sugar futures for March delivery traded at USD0.1638 a pound, down 0.35%. Prices of the sweetener held in a range between USD0.1638 a pound and USD0.1648 a pound.
The March contract settled 1.86% higher on Friday to end at USD0.1645 a pound, as investors returned to the market to seek cheap valuations in wake of recent losses.
Sugar prices have been on a downward trend in recent weeks as investors continued to focus on massive global supplies of the sweetener. Prices of the sweetener fell to a three-and-a-half-year low of USD0.1586 a pound on December 18.
Elsewhere, Arabica coffee for March delivery traded at USD1.1573 a pound, up 0.5%. The March Arabica contract held in a range between USD1.1503 a pound and USD1.1578 a pound.
The March contract rallied 1.36% on Friday to settle at USD1.1530 a pound.
Coffee prices have been well-supported in recent sessions as investors closed out bets on lower prices, a move known as short-covering.
Coffee prices have been under heavy selling pressure in recent months, as traders monitored improving crop prospects in Brazil and Colombia. Coffee prices slumped to USD1.0100 a pound on November 7, the lowest since October 19, 2006.
Trading volumes are expected to remain light as agricultural commodity markets will remain closed for Christmas on Wednesday, with many traders taking the whole week off.
On the ICE Futures U.S. Exchange, cotton futures for March delivery traded at USD0.8158 a pound, down 1.85%. Cotton prices traded in a range between USD0.8149 a pound and USD0.8308 a pound.
The March contract rallied to USD0.8385 a pound on Friday, the highest since October 18, before turning lower to settle at USD0.8315 a pound, down 0.22%.
Indications of robust demand from top consumer China have been supporting prices of the fiber in recent sessions.
Meanwhile, sugar futures for March delivery traded at USD0.1638 a pound, down 0.35%. Prices of the sweetener held in a range between USD0.1638 a pound and USD0.1648 a pound.
The March contract settled 1.86% higher on Friday to end at USD0.1645 a pound, as investors returned to the market to seek cheap valuations in wake of recent losses.
Sugar prices have been on a downward trend in recent weeks as investors continued to focus on massive global supplies of the sweetener. Prices of the sweetener fell to a three-and-a-half-year low of USD0.1586 a pound on December 18.
Elsewhere, Arabica coffee for March delivery traded at USD1.1573 a pound, up 0.5%. The March Arabica contract held in a range between USD1.1503 a pound and USD1.1578 a pound.
The March contract rallied 1.36% on Friday to settle at USD1.1530 a pound.
Coffee prices have been well-supported in recent sessions as investors closed out bets on lower prices, a move known as short-covering.
Coffee prices have been under heavy selling pressure in recent months, as traders monitored improving crop prospects in Brazil and Colombia. Coffee prices slumped to USD1.0100 a pound on November 7, the lowest since October 19, 2006.