Cotton Bouncing Higher on Thursday Morning
Cotton prices are up 47 to 75 points on Thursday AM trade. Futures saw gains of 2 to 36 points across most contracts on Wednesday, with thinly traded October down 78 points. Crude oil was up $2.19 per barrel on the session, with the US dollar index $0.531 higher.
Ahead of the meeting between the US and China today, Treasury Secretary Bessent stated the US and China trade truce was extended by 2 months as the two work on a trade deal.
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The Seam reported sales of 2,859 bales on 9/22 at an average of 79.69 cents.lb. The Cotlook A index was up 230 points on Tuesday at 93.65. ICE certified cotton stocks were down 37 bales on September 22, with the certified stocks level at 29,556 bales. The Adjusted World Price was back down 59 points last week to 68.92 cents/lb. It will be updated on Thursday.
Oct 26 Cotton closed at 78.91, down 78 points, currently unch
Dec 26 Cotton closed at 82.89, up 2 points, currently up 75 points
Mar 27 Cotton closed at 85.65, up 8 points, currently up 58 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.
