Cotton futures are down 40 to 52 points across most contracts on Monday, with crude oil adding some spillover pressure. Crude oil is falling $8.20 per barrel on the session, with the US dollar index $0.210 lower.
The large managed money speculators and cotton futures and options cut 10,276 contracts from their net long position as of October 27th. That took their net long position to 59,190 contracts as of Tuesday.
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The Seam reported just 219 bales sold on October 30, at an average of 68.67 cents/lb. The Cotlook A index was up 35 points on 10/30 at 90.20. ICE certified cotton stocks were down 613 on Friday, with the certified stocks level at 26,978 bales. The Adjusted World Price was down 50 points on Thursday to 64.51 cents/lb.
Dec 26 Cotton is at 77.31, down 52 points,
Mar 27 Cotton is at 81.16, down 43 points,
May 27 Cotton is at 82.83, down 40 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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