Cotton Rally Pushes Prices Higher on Wednesday
Cotton futures closed the Wednesday session with contracts up 24 to 96 points at the final bell. Crude oil was up 90 cents on the day with the US dollar index up $0.356.
Parts of Central Texas are looking at 1 to 3 inches precip in the next week, with the panhandle and east TX are seen with very little totals. The Southeast is looking at trace amounts.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
The Cotlook A Index was again unchanged on Tuesday at 90.70 cents. ICE certified cotton stocks were down another 20,673 bales on July 14 via decertification, with the certified stocks level at 100,612 bales. The Adjusted World Price was back up 92 points last week to 62.86 cents/lb.
Oct 26 Cotton closed at 80.8, up 120 points,
Dec 26 Cotton closed at 81.8, up 93 points,
Mar 27 Cotton closed at 83.15, up 92 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.
More news from Barchart
- Soybean Prices Are Set to Challenge Their May High. 1 Trade to Make Here.
- Global Weather Concerns and China Demand Are Spiking Corn, Soybean, and Wheat Prices
- Weather Problems Create a Buying Opportunity in Wheat Prices Here
- Corn and Soybean Bulls Are Taking One Step Out of the Grave as a Critical Trading Period Kicks Off
