Cotton is trading a point to 96 points higher this morning ahead of the USDA Export Sales report. Cotton worked lower on the midweek session, but closed 40 points to a penny off the session lows. July went home with a 33 point loss on Wednesday, and is now down a net 104 points for the week to date. July was a 3.78 cent premium to Dec contracts at the close.Â
Census reported 1.551 million bales of cotton was exported in April. That was near even with March, but was down 18% from April ’22. The season’s total exports reached 9.4m bales, which remains the slowest pace since 2015/16 and is 75% of the forecast with 25% of the data yet to come in.Â
The 6/6 Cotlook A Index was a penny weaker to 95 cents/lb flat. The AWP for cotton is 66.91 c/lb, and will be updated tomorrow after the close. ICE Certified stocks climbed 6,234 bales to 13,922 for 6/5.Â
Jul 23 Cotton  closed at 85.01, down 33 points, currently up 95 pointsÂ
Dec 23 Cotton  closed at 81.23, down 55 points, currently up 43 points
Mar 24 Cotton  closed at 81.02, down 46 points, currently up 35 points
On the date of publication, Alan Brugler 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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