Cotton futures are trading with contracts up 43 points in July and other contracts steady to 5 points lower. Crude oil is down $2.85 to $84.86/barrel. The US dollar index is down $0.109 at $99.740.
USDA’s Export Sales report now has the old crop cotton commitments at 11.541 million RB, which is 101% of the USDA export projection revised higher on Thursday, and behind the 110% average sales pace. Shipments are 9.183 million RB, which was 80.3% of the USDA estimate and compares to the 82% average shipping pace.
WASDE data from USDA Thursday showed a 200,000 bale cut to old crop stocks at 4.2 million bales, with exports up 200,000 bales to 12.2 million bales. New crop was down by that same amount at 3.7 million bales.
The Seam shows sales on 1,071 bales in Thursday’s online auction with an average price of 63.24 cents/lb. The Cotlook A Index was unchanged on 6/11 at 83.65 cents. ICE certified cotton stocks were down 90 bales on June 12 with the certified stocks level at 192,699 bales. The Adjusted World Price was down another 194 points on Thursday at 61.26 cents/lb.
Jul 26 Cotton is at 72.92, up 43 points,
Dec 26 Cotton is at 76.35, down 1 points,
Mar 27 Cotton is at 77.56, down 4 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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