Cotton futures posted losses of 33 to 121 points across most contracts on Wednesday. The US dollar index was $0.054 higher at $99.155. Crude oil was down $4.48 on the day to $89.41 to add pressure.
NASS Crop Progress data showed 53% of the US cotton crop planted as of May 24, which matches the 5-year average pace. Of the 15 major states USDA reports on, AR, GA, KS, LA, NC, SC, TX and VA were behind normal.
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The Seam reported 1,641 sales on Tuesday at an average of 75.26 cents/lb. The Cotlook A Index was back down 350 points on May 22 at 87.35 cents. ICE certified cotton stocks were up 4,031 on 5/26 with the certified stocks level at 225,155 bales. The Adjusted World Price was back down 319 points on last week at 68.68 cents/lb.
Jul 26 Cotton closed at 76.16, down 121 points,
Dec 26 Cotton closed at 78.66, down 113 points,
Mar 27 Cotton closed at 79.68, down 100 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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