Cotton futures are retreating from early session strength on Tuesday, as contracts are up just 9 to 14 points. The US dollar index is $0.408 lower at $99.945. Crude oil futures are up $1.71 to $104.59 on the day.
March Prospective Plantings data from this morning showed cotton acres seen at 9.64 million acres this spring. That was a 409,000 increase from estimates and would be 357,000 acres above a year ago.
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The Seam showed 2,566 bales sold on Monday at an average of 61.79 cents/lb. The Cotlook A Index was up 10 points on 3/30 at 80.20 cents. ICE certified cotton stocks were unchanged on March 30, with the certified stocks level at 114,665 bales. The Adjusted World Price was raised by 25 points last Thursday to 54.47 cents/lb.
May 26 Cotton is at 70.33, up 14 points,
Jul 26 Cotton is at 72.55, up 13 points,
Dec 26 Cotton is at 74.7, up 9 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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