Cotton Posting Thursday Gains
Cotton futures are showing 50 to 60 cent gains at midday, with October down 78 points. Crude oil is up $2.30 per barrel on the session, with the US dollar index $0.168 higher.
Traders continue to monitor the US/China meeting today, though nothing has been released and trade related news. Secretary Bessent has stated this week that the two countries are extending the trade truce for 2 months.
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USDA’s Export Sales report showed 230,517 RB of cotton sales in the week ending in September 17, which was a marketing year high. Sales for 2027/28 were 122,994 RB. Shipments were tallied at 164,704 RB, which was back up from last week and a 20.03% increase from the same week last year.
The Seam reported sales of 753 bales on Wednesday at an average of 77.45 cents/lb. The Cotlook A index was up 40 points on September 23 at 93.25. ICE certified cotton stocks were unchanged on 9/23, with the certified stocks level at 29,556 bales. The Adjusted World Price was back down 59 points last week to 68.92 cents/lb. It will be updated later today.
Oct 26 Cotton is at 78.91, down 78 points,
Dec 26 Cotton is at 83.43, up 54 points,
Mar 27 Cotton is at 86.19, up 54 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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