Cotton futures are up 54 to 101 points across most contracts on Wednesday. Crude oil is back up $1.26 at midday, with the US dollar index steady.
Traders are looking for cotton acreage to total 10 million acres in Monday’s June 30 Acreage report.
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The Seam reported just 182 bales sold in the Tuesday online auction at an average price of 59 cents. The Cotlook A Index was up 85 points on 6/24 at 78.40. ICE cotton stocks were down 1,196 bales on June 24, with a certified stocks level of 61,136 bales. USDA’s Adjusted World Price (AWP) was up 1 point last week at 54.03 cents/lb and is effective through Thursday.
Jul 25 Cotton is at 67.02, up 101 points,
Oct 25 Cotton is at 67.98, up 54 points,
Dec 25 Cotton is at 68.36, up 57 points
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