Cotton prices are trading anywhere from up 2 to down 2 points on Monday morning as the market comes back from the three-day weekend. Futures were up 16 points to down 21 points at the Thursday close, as May was up 146 points last week. The US dollar index was $0.402 higher at $99.860. Crude Oil was up $11.94 at $112.06.
Export Sales data showed a total of 371,475 RB of 25/26 cotton sold in the week ending on 3/26. That was a 6-week high and well above the same period last year. Vietnam purchased 175,500 RB, with 59,400 RB to Turkey. New crop sales were 117,271 RB, the second largest for the marketing year. Total sales of 488,746 RB were the largest in 6 weeks. Shipments were at 356,663 RB in that week, which was down 10.96% from last week. Vietnam was the top destination at a total of 104,100 RB.
Export commitments are 9.928 million RB, which is 88% of the USDA projection and lags the 98% average pace. Export shipments are 54% of the USDA number at 6.06 million RB, slightly behind the 57% average shipping pace.
Managed money was slashing 21,222 contracts from their net short in cotton futures and options in the week of March 31. That took their near record (in mid-February) net short to a net short of just 12,226 contracts.
The Seam showed 2,488 bales sold on 4/1 at an average of 63.03 cents/lb. The Cotlook A Index was down 20 points on April 1 at 80.75 cents. ICE certified cotton stocks were unchanged on Wednesday, with the certified stocks level at 114,665 bales. The Adjusted World Price was raised by 252 points on Thursday afternoon to 56.99 cents/lb.Â
May 26 Cotton  closed at 70.92, up 16 points, currently up 2 points
Jul 26 Cotton  closed at 73.05, up 11 points, currently unch
Dec 26 Cotton  closed at 74.98, down 10 points, currently down 2 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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