Cotton Weakness Continuing on Wednesday Morning
Cotton prices are down 8 to 11 points on Wednesday morning. Futures were mixed on Tuesday with nearby and thin October up 46 points and other contracts down 3 to 17 points. Crude oil was up $4.09 per barrel on the session, with the US dollar index up $0.249.
Weekly Crop Progress data showed 57% of the US cotton crop with bolls opening as of Sunday, with 8% of the crop with harvested. Condition ratings were pegged at 36% good/excellent, up 2 percentage points on the week. The Brugler500 index was steady at 298, as poor/very poor ratings were up 2%.
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 down 205 points on September 14 at 96.15. ICE certified cotton stocks were steady on Monday, with the certified stocks level at 38,462 bales. The Adjusted World Price was back down 441 points on last week to 69.51 cents/lb.
Oct 26 Cotton closed at 81.1, up 46 points, currently down 11 points
Dec 26 Cotton closed at 84.48, down 7 points, currently down 7 points
Mar 27 Cotton closed at 86.99, down 13 points, currently down 13 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
