Cotton Faces Pressure on Friday
Cotton futures closed Friday with front month losses of 7 to 129 points and deferreds up 3 to 4 points. December was up 135 points on the week. Crude oil was back down $1.72 per barrel, with the US dollar index slipping 0.024.
Friday afternoon’s Commitment of Traders report showed managed money spec funds in cotton futures and options adding another 3,525 contracts to their net long in the week ending on Tuesday to 53.209 contracts.
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Export Sales data has accumulated 2025/26 cotton sales at 12.003 million RB, which is 102% of the USDA export projection, with just 2 reporting weeks left in the marketing year. New crop business has accumulated to 2.526 million RB, up 28.05% from last year.
The NOAA 7-day QPF shows very limited precipitation across much of TX with 1 to 2 inches seen in parts of AL and GA through the east coast.
The Cotlook A Index was up another 75 points July 23 at 90.35 cents. ICE certified cotton stocks were unchanged on Thursday, with the certified stocks level at 94,235 bales. The Adjusted World Price was trimmed by 155 points on Thursday to 63.82 cents/lb. It is good through next week.
Oct 26 Cotton closed at 78.55, down 129 points,
Dec 26 Cotton closed at 79.98, down 123 points,
Mar 27 Cotton closed at 81.64, down 119 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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