Cotton Posts Modest Strength on Thursday
Cotton futures closed the Thursday session with contracts 12 to 24 points higher across the board. Crude oil was back up $3.01 per barrel, with the US dollar index $0.269 higher.
Export Sales data showed net cancellation of 55,855 RB of 2025/26 cotton in the week of July 30 (marketing year ended on 7/31), a marketing year low. There was 242,052 RB reported for new crop business in that week, the third largest for the MY. The largest buyer was Vietnam at 132,400 RB, with 41,600 RB sold to Turkey. Shipments were tallied at 222,830 RB. Vietnam took a bulk of the shipments at 88,900 RB, with 35,500 RB headed to Pakistan and 19,500 MT to Turkey.
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The Seam reported 2,277 bales sold on the 8/5 sale, with an average price of 80.64 cents. The Cotlook A Index dropped 70 points on August 5 to 93.00 cents. ICE certified cotton stocks were steady on Wednesday, with the certified stocks level at 84,632 bales. The Adjusted World Price was raised by 163 points on Thursday to 66.29 cents/lb.
Oct 26 Cotton closed at 81.96, up 12 points,
Dec 26 Cotton closed at 83.16, up 14 points,
Mar 27 Cotton closed at 84.89, up 18 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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