Cotton Posting Monday Rally
Cotton futures are showing 170 to 190 point gains across most contracts. Crude oil is $2.38 per barrel, with the US dollar index $0.248 lower.
Commitment of Traders data showed managed money adding another 17,173 contracts to their net long in cotton futures and options during the week ending on August 25. That net long stood at 95,841 contracts on Tuesday.
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The Seam reported sales of 2987 bales on Friday at an average price of 82.62 cents/lb. The Cotlook A Index was up 300 points on August 28 at 101.30 cents. ICE certified cotton stocks were down 3,149 bales on 8/28, with the certified stocks level at 63,178 bales. The Adjusted World Price was raised by another 190 points on last week to 71.52 cents/lb.
Oct 26 Cotton is at 91.66, up 174 points,
Dec 26 Cotton is at 93.19, up 181 points,
Mar 27 Cotton is at 95.2, up 186 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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