Cotton Field with Drones
Cotton marched lower on Wednesday, but closed ~40 points off the daily low with triple digit old crop losses. New crop futures were down by 17 to 20 points.
The Cotlook A Index was 5 points weaker to 98.40 cents/lb. USDA’s weekly Cotton Market Review showed 11,320 bales were sold at an average price of 89.25 cents/lb. The updated AWP is 76.10 cents/lb for the week through Thursday. ICE certified stocks added another 1,100 bales to 27,765 as of 3/13.
May 24 Cotton closed at 92.18, down 116 points,
Jul 24 Cotton closed at 92.12, down 100 points,
Dec 24 Cotton closed at 83.8, down 20 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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