Cotton price action is back down 30 to 44 points so far on Thursday following Wednesday’s rally. Futures closed with contracts 243 to 294 points higher across the front months, with deferred contracts 53 to 110 points in the green. Crude oil was up $1.90, with the US dollar index $0.809 lower.
Dryness is expected to continue across much of TX as parts of the Delta in the next week according to the NOAA 7-day QPF.
The Cotlook A Index was up 70 points on August 18 at 96.00 cents. ICE certified cotton stocks were down 1,986 bales on Tuesday, with the certified stocks level at 70,643 bales. The Adjusted World Price was raised by 190 points last week to 68.19 cents/lb. It is good through Thursday.
Oct 26 Cotton closed at 87, up 288 points, currently down 44 points
Dec 26 Cotton closed at 88.35, up 294 points, currently down 35 points
Mar 27 Cotton closed at 90.14, up 293 points, currently down 35 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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