Cotton futures closed with gains of 21 to 43 points across the board on Thursday. Crude oil was up 8 cents per barrel on the session, with the US dollar index $0.271 lower.
USDA’s Export Sales report showed 216,488 RB of cotton sales in the week ending in October 22, which was up 8.45% from last week and 63.07% larger than last year. China was the top buyer of 52,100 RB, with 40,800 sold to Turkey. New crop bookings were 38,345 RB, with 17,000 RB sold to Indonesia. Shipments were tallied at 160,762 RB, which was back down. 18.13% from last week and an 8.02% drop from the same week last year. Vietnam was the top destination of 65,200 RB, with 26,600 RB to Pakistan.
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The Seam reported just 179 bales sold on October 28, at an average of 65.98 cents/lb. The Cotlook A index was down 100 points on 10/28 at 89.70. ICE certified cotton stocks back unchanged on Wednesday, with the certified stocks level at 27,591 bales. The Adjusted World Price was down 50 points last week to 64.51 cents/lb.
Dec 26 Cotton closed at 78.5, up 35 points,
Mar 27 Cotton closed at 82.25, up 35 points,
May 27 Cotton closed at 83.86, up 32 points
On the date of publication, Austin Schroeder did not directly have a position 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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