Cotton Bouncing Higher on Thursday
Cotton futures are trading with midday gains of 20 to 30 points in the nearbys on Thursday, with October down 32 points. The US dollar index is down $0.252 on the day to $97.505 with crude oil futures $1.21 lower.
USDA’s weekly Export Sales report showed 129,598 RB of cotton sold in the week ending on 9/4, a 3-year low. Shipments were 130,206 RB, back down from last week.
The Seam reported 433 bales sold on Wednesday at an average price of 63 cents/lb. The Cotlook A Index was up 20 points at 77.85 cents on September 10. ICE cotton stocks were steady on 9/9, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was down another 63 points last week at 54.31 cents/lb. It will be updated later today.
Oct 25 Cotton is at 65.24, down 32 points,
Dec 25 Cotton is at 66.96, up 29 points,
Mar 26 Cotton is at 68.84, up 25 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.