Cotton Slips Lower on Wednesday
Cotton futures saw bulls take some money off the table a day ahead of month end, with contracts down 8 to 65 points on Wednesday. The US dollar index was up $0.359 at $98.835. Crude oil was extending higher, up another $8.56 to $108.49.
The Seam showed just 139 bales sold on Tuesday at an average of 68 cents/lb. The Cotlook A Index was up 20 points on 4/28 at 89.35 cents. ICE certified cotton stocks were steady on April 28, with the certified stocks level at 165,681 bales. The Adjusted World Price was up another 365 points on Thursday afternoon to 65.26 cents/lb.
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May 26 Cotton closed at 76.86, down 48 points,
Jul 26 Cotton closed at 79.2, down 47 points,
Dec 26 Cotton closed at 80.46, down 65 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.
