Cotton Ignoring Outside Markets for Midday Gains
Cotton futures are showing Monday strength of 54 to 64 points at midday. Crude oil is down $4.41 at midday this morning after the US and Iran came to a peace deal over the weekend, to be signed this Friday. The US dollar index is down $0.285 at $99.460.
CFTC data showed managed money trimming their net short in cotton futures and options by 10,198 contracts to 42,204 contracts by Tuesday.
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The Cotlook A Index was back up 110 points on Thursday at 84.75 cents. ICE certified cotton stocks were unchanged on 6/12 ith the certified stocks level at 192,699 bales. The Adjusted World Price was down another 194 points last week at 61.26 cents/lb.
Jul 26 Cotton is at 73.48, up 54 points,
Dec 26 Cotton is at 76.98, up 56 points,
Mar 27 Cotton is at 78.28, up 64 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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