Cotton's having a solid Tuesday morning—up 30-42 points and looking pretty bullish. Futures caught some decent gains yesterday, with Dec contracts closing up 9 points at 61.44. Interesting thing: the USDA just dropped their final crop progress report and US cotton's sitting at 79% complete, slightly lagging the normal 80% pace—that could be keeping some support under prices.

Oil's also doing its part, hitting $58.89 (+83 cents), which usually helps commodity sentiment. Meanwhile, the Cotlook A Index held steady at 74 cents. One thing to watch: the Adjusted World Price got dinged this week, dropping 103 points to 50.80 cents/lb. If that weakness spreads to futures, we might see some profit-taking soon. Mar and May contracts are holding stronger though—both up 15-16 points from yesterday's close.