Cotton Posting Monday Midday Strength
Cotton futures are continuing to climb on Monday’s midday, with contracts up 65 to 75 points in the front months. Crude oil is just a penny per barrel higher, with the US dollar index $0.159 lower.
Commitment of Traders data showed managed money adding another 10,591 contracts to their net long in cotton futures and options during the week ending on August 11. That net long stood at 78,870 contracts on Tuesday, the largest in over 2 years.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
The Cotlook A Index was down 90 points on Friday at 94.05 cents. ICE certified cotton stocks were down 3,359 bales on August 14, with the certified stocks level at 72,626 bales. The Seam reported just 74 bales sold on the 8/14 auction at an average price of 71 cents. The Adjusted World Price was raised by 190 points on Thursday to 68.19 cents/lb.
Oct 26 Cotton is at 84.31, up 71 points,
Dec 26 Cotton is at 85.55, up 75 points,
Mar 27 Cotton is at 87.34, up 66 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.
More news from Barchart
