Cotton futures rallied on Wednesday, with contracts 52 to 107 points higher at the close. Crude oil was down $8.05 per barrel on the session, with the US dollar index $0.326 higher.
Cotton exports in September totaled 641,476 bales according to Census data, which was down 30.18% from last month but up 8.49% from last year.
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The Seam reported just 1,852 bales sold on Tuesday, at an average of 75.03 cents/lb. The Cotlook A index was down 15 points on November 3 at 89.40. ICE certified cotton stocks were up 38,700 bales on 11/3, with the certified stocks level at 65,678 bales. The Adjusted World Price was down 50 points last week to 64.51 cents/lb.
Dec 26 Cotton closed at 78.11, up 107 points,
Mar 27 Cotton closed at 81.96, up 106 points,
May 27 Cotton closed at 83.56, up 101 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.