Cotton prices are up 10 to 17 points across most nearby contracts on Wednesday morning. Futures were steady to 7 points lower across most contracts on Tuesday. Crude oil futures were down 73 cents per barrel at $58.59 on the day, with the US dollar index $0.102 lower to $99.260.
Commitment of Traders data showed managed money trimming 98 contracts from their previous record net short position as of October 21, taking it to 81,245 contracts.
The December 1 online auction from The Seam showed 6,106 bales sold at an average price of 60.03 cents/lb. The Cotlook A Index was up 10 points on Monday at 75.05 cents. ICE certified cotton stocks were down 450 bales on 12/1 with the certified stocks level at 19,894 bales. The Adjusted World Price was updated to 50.77 cents/lb last week, down 3 points from the previous week.
Dec 25 Cotton closed at 62.77, down 6 points, currently unch points
Mar 26 Cotton closed at 64.57, down 6 points, currently up 17 points
May 26 Cotton closed at 65.71, down 7 points, currently up 16 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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