Cotton futures are trading with 281 top 381 point losses at midday, with nearby July bouncing off early limit losses. The US dollar index is $0.407 higher at $98.135. Crude oil is up $4.01 at $105.18 midday.
Few details announced following the meeting with President Trump and China’s President Xi left the market hanging. President Trump stated early this morning that US farmers will be very happy with the trade deals with China.
USDA’s Export Sales report from Thursday now has the US export business at 10.863 million RB, which is 97% of the USDA forecast and lags the 105% average sales pace. Export shipments are 71% of the USDA forecast and behind the 73% average pace.
The Seam showed sales of just 6 bales on May 14, at an average price of 60 cents/lb. The Cotlook A Index was back up 50 points on Thursday at 96.65 cents. ICE certified cotton stocks were up 6,670 bales on 5/14, with the certified stocks level at 193,114 bales. The Adjusted World Price was up another 228 points on Thursday at 71.87 cents/lb.
Jul 26 Cotton is at 80.13, down 381 points,
Dec 26 Cotton is at 81.61, down 287 points,
Mar 27 Cotton is at 82.25, down 281 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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