Cotton futures are trading with 9 to 15 point losses in the front months on Friday. The US dollar index is $0.079 lower at $98.510. Crude oil is up 50 cents on the day.
USDA’s Export Sales report now has cotton export commitments at 10.25 million RB, down just 2% from last year. That is 91% of the USDA export forecasts and lags the average of 99%. Shipments are now above last year at this point at 6.403 million RB, which is 57% of USDA’s number and lags the 59% average shipping pace.
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The monthly update to the USDA balance sheet for cotton showed the US side unchanged at 4.4 million bales for carryout, as the cash average price was up a penny to 61 cents. The world balance sheet was up 0.65 million bales to 77.04 million bales.
The Seam showed 12,229 bales sold on 4/9 at an average of 72.88 cents/lb. The Cotlook A Index was 30 points higher on April 9 at 82.55 cents. ICE certified cotton stocks were up 11,638 bales on Thursday, with the certified stocks level at 139,581 bales. The Adjusted World Price was up another 175 points on Thursday afternoon at 58.74 cents/lb.
May 26 Cotton is at 73.12, down 14 points,
Jul 26 Cotton is at 75.23, down 9 points,
Dec 26 Cotton is at 76.77, down 10 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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