Cotton on dry branch by Marianne Krohn via Unsplash
Cotton futures were weaker on Wednesday, with contracts 67 to 119 points lower. Crude oil was back up $5.34 per barrel, with the US dollar index was 0.586. The Fed left rates unchanged on Wednesday’s announcement.
The next 7 days looks for a drier forecast in TX, with the delta looking for a wetter pattern.
The Cotlook A Index was up 100 points July 28 at 90.10 cents. ICE certified cotton stocks were unchanged on Tuesday, with the certified stocks level at 90,699 bales. The Adjusted World Price was trimmed by 155 points last week to 63.82 cents/lb. It is good through Thursday.
Oct 26 Cotton closed at 78.02, down 119 points,
Dec 26 Cotton closed at 79.53, down 100 points,
Mar 27 Cotton closed at 81.14, down 97 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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