Cotton -marianne-krohn-RNqZbnBnMQk-unsplash
Cotton futures set new highs on Monday. Tuesday initially worked higher, but after failing to overtake Monday’s high faded to close triple digits in the red. Old crop was down 206 to 226 points on the day, with May staying 356 points above July. New crop futures ended the session 26 to 111 points lower.
USDA’s Daily Spot Quotations report showed 2,807 bales of cotton was sold at spot, taking the season’s total to 1.549m bales. The Cotlook A index was a nickel higher to 152.75 cents/lb on 3/28. USDA’s AWP for cotton is 122.07 cents/lb for the week through Thursday.
May 22 Cotton closed at 136.81, down 226 points,
Jul 22 Cotton closed at 133.25, down 206 points,
Dec 22 Cotton closed at 111.04, down 26 points
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