Cotton futures are continuing the rally on Thursday, with contracts up 70 to 85 points so far. The US dollar index is $0.209 higher at $98.060. Crude oil is up $3.09 so far on the day.
USDA Export Sales data from this morning showed a total of 161,101 RB of old crop cotton sold in the week ending on April 9, the lowest in 6 weeks. That was still 39.99% above the same wek last year. New crop business was tallied at 26,863 RB. Shipments were 305,029 RB in that week, a 4-week low.
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The Seam showed 10,624 bales sold on Wednesday at an average of 72.16 cents/lb. The Cotlook A Index was 20 points lower on April 15 at 85.60 cents. ICE certified cotton stocks were raised by 2,855 bales on April 15, with the certified stocks level at 162,367 bales. The Adjusted World Price was up another 175 points last week at 58.74 cents/lb. It will be updated this afternoon.
May 26 Cotton is at 75.81, up 70 points,
Jul 26 Cotton is at 78.27, up 85 points,
Dec 26 Cotton is at 79.18, up 83 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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