Cotton prices are down 80 to 90 points so far on Wednesday. Futures closed the Tuesday session with contracts 21 to 57 points higher at the final bell. Crude oil was 48 cents per barrel higher on the session, with the US dollar index back down $0.308.
Monthly trade data from Census showed 917,974 bales of exports during August, which was 42.84% above a year ago and a 3-year high, but down 20.91% from July.
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The weekly Crop Progress report showed 74% of the US cotton crop with bolls opening as of Sunday. Harvest was tallied at 23%, running 2 percentage points ahead of normal. Condition ratings were pegged at 33% good/excellent, down 2 percentage points on the week. The Brugler500 index was fell 4 points to 290.
The Seam reported sales on 423 bales on October 5 at an average of 76.83 cents/lb. The Cotlook A index was back up 100 points on Monday at 89.35. ICE certified cotton stocks were down 49 bales on 10/5, with the certified stocks level at 22,191 bales. The Adjusted World Price was down 93 points last week to 65.16 cents/lb.
Oct 26 Cotton closed at 77.48, up 35 points, currently unch
Dec 26 Cotton closed at 81.21, up 35 points, currently down 88 points
Mar 27 Cotton closed at 84.17, up 46 points, currently down 80 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.