Welcome to Markets Desk, your end-of-week wrap on the stories moving commodities and energy.
Cotton futures finished the week under significant pressure, with December contracts shedding two hundred ninety-one points on the week alone. Friday's Commitment of Traders data pointed to managed money spec positioning as a key driver, while a stronger dollar index added headwinds to the complex heading into the weekend.
Corn told a different story, shaking off early session weakness to close near the highs of the day, with most contracts finishing up two and a quarter to three and a half cents. September corn added five and a quarter cents on the week, December up six and a half, with the national cash price also firming — a quiet but meaningful recovery for the grain market.
Meanwhile in energy, natural gas pushed higher Friday, settling up nearly two percent on the August Nymex contract. The catalyst was a sharp rally in European gas prices to a three-and-three-quarter-month high, driven by mounting concern that escalating US-Iran tensions could keep the Strait of Hormuz closed and tighten global supply chains. Crude oil also gained three dollars and fifty cents on the day, reinforcing the broader energy bid.
That's the tape. Markets Desk, signing off the floor.
