Cotton Trying to Bounce on Wednesday Morning
Cotton prices are up 8 to 12 points so far on Wednesday. Futures fell into the Tuesday close, as contracts were down 22 to 32 points on the day. Crude oil futures were up $1.09 per barrel at $60.53. The US dollar index fell $0.836 to $98.365.
The January 19 online auction from The Seam showed sales of 60.43 cents/lb on 1,971 bales. The Cotlook A Index was unchanged on 1/19 at 74.80 cents. ICE certified cotton stocks were unchanged on Monday with the certified stocks level at 11,029 bales. The Adjusted World Price was updated to 51.17 cents/lb on Thursday, up 20 points from the week prior.
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Mar 26 Cotton closed at 64.34, down 32 points, currently up 11 points
May 26 Cotton closed at 65.96, down 27 points, currently up 10 points
Jul 26 Cotton closed at 67.43, down 22 points, currently up 8 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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