Commodity traders stay bullish as ICE Cotton adds $3.52 or 4.39%

Today at a glance: Cotton rallied $3.52 and maintained the $83.64 per pound level.

On the flip side, data from United States concerning Core Durable Goods Orders was released today at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.3% to -0.2% this month. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

At the same time, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

A look at other Softs also shows upside as Sugar soars 2.34% today and closed at $24.83.

Meanwhile, after ending today's session at $182.7, Coffee lost $1.85 and is trading around $180.85. Cocoa slides down 0.56% today and closed at $3,017.

The commodity has been trending positively for about 2 months. Over the past 11 months, the Cotton future has retreated 45.36% from a noteworthy peak of $146.62.