Cotton futures are showing 10 to 20 point losses in the front months on Tuesday, with in delivery May, up 33 points. The US dollar index is back up $0.162 at $98.480. Crude oil is extending the gains, up $2.95 to $99.32.
NASS Crop Progress data showed 16% of the US cotton crop planted as of April 26, which was 3 percentage points ahead of the 5-year average of 13%. Just GA (-1%), LA (-2%), SC (-3%), and VA (-13%) were reported of the 15 major states to lag behind normal planting pace. The Texas crop was pegged at 20% planted vs. the 19% average.
The Seam showed 2,800 bales sold on 4/27 at an average of 73.91 cents/lb. The Cotlook A Index was unchanged on Monday at 89.35 cents. ICE certified cotton stocks were steady on April 27, with the certified stocks level at 165,681 bales. The Adjusted World Price was up another 365 points on Thursday afternoon to 65.26 cents/lb.
May 26 Cotton is at 77.33, up 33 points,
Jul 26 Cotton is at 79.47, down 11 points,
Dec 26 Cotton is at 80.87, down 10 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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