The December cotton contract stayed within a penny range on Thursday from -50 to +43 points. Front month futures were mixed within 10 points at the close.
The weekly FAS Export Sales report showed 23k RBs of cotton export sales for the week that ended 7/6. That was the weakest sale since net cancelations in December. New crop sales were shown at 51k RBs for a net forward book of 2.309 million. That is half the forward volume from the same time last season.
The Seam reported 6,488 bales sold on 7/12 for an average gross price of 73.97 cents. The Cotlook A Index was back up by 255 points to 92.10 cents/lb on 7/12. The AWP was lowered 56 points to 64.94 cents/lb. ICE certified stocks were 8,926 bales as of 7/10.
Dec 23 Cotton closed at 81.68, up 3 points,
Mar 24 Cotton closed at 81.75, up 2 points,
May 24 Cotton closed at 81.73, down 4 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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