15:14 EDT - Cotton futures rallied, buoyed by a weaker dollar and concerns about dry weather in several growing regions. Both India and top-US producing region West Texas have been receiving sub-par rains, says independent analyst Mike Stevens, which has created a bullish technical picture, encouraging some fund buying and speculator interest. "Commercial resistance to this rally has yet to materialize," he says, citing the quick rise above 77c/lb. ICE cotton for December delivery settled 3.3% higher at 77.30c/lb., a high since May 21.
DJ MARKET TALK: Cotton Jumps to 13-Week High on Dry Weather
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