Cotton Posting Midday Gain on Thursday
Cotton futures are getting spillover strength on Thursday, as WTI crude tops $100, with cotton contracts up 66 to 95 points at midday. Crude oil is rallying $5.29 per barrel higher on the session, with the US dollar index up 190 points.
Export Sales data is delayed to Friday due to the Monday holiday.
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The Cotlook A index was up 10 points on Wednesday on 9/9 at 96.10. ICE certified cotton stocks were up 3,999 bales on September 9, with the certified stocks level at 50,415 bales. The Adjusted World Price was raised by another 240 points last week to 73.92 cents/lb. It will be updated later today.
Oct 26 Cotton is at 84.39, up 66 points,
Dec 26 Cotton is at 88.18, up 90 points,
Mar 27 Cotton is at 90.58, up 93 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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