Cotton price action is up 45 to 50 points on Wednesday morning. Futures bounced back on the Tuesday session, with contracts up 71 to 86 points across the front months. Crude oil futures were up $1.96 per barrel on the day at $62.56. The US dollar index was down another $1.282 on pressure late in the day to $95.575.
The Monday online auction from The Seam showed sales of 59.58 cents/lb on 12,326 bales. The Cotlook A Index was steady on January 23 at 74.05 cents. ICE certified cotton stocks were down another 1,317 bales on 1/26 with the certified stocks level at 8,595 bales. The Adjusted World Price was updated to 50.99 cents/lb on last week, down 18 points from the week prior.
Mar 26 Cotton closed at 63.83, up 86 points, currently up 46 points
May 26 Cotton closed at 65.45, up 77 points, currently up 50 points
Jul 26 Cotton closed at 67.01, up 71 points, currently up 47 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
