Cotton price action is up 10 to 29 points across the front months on Wednesday morning. Futures closed the Tuesday session with contracts bouncing from new lows overnight and settling up 21 to 33 points. Crude oil futures were back up 76 cents per barrel to $60.67 on the day, with the US dollar index $0.028 lower to $99.460.
Crop Progress data from NASS estimates the US cotton crop at 71% harvested as of 11/16, lagging the 72% average pace.
The Monday online auction from The Seam showed 3,009 bales sold with an average price of 57.27 cents/lb. The Cotlook A Index was down another 30 points on 11/14 at 74.40 cents. ICE certified cotton stocks were up 1,100 bales on November 17 with the certified stocks level at 20,344 bales. The Adjusted World Price was reported last week at 51.83 cents/lb. It is good through this Thursday.
Dec 25 Cotton closed at 62.57, up 21 points, currently up 29 points
Mar 26 Cotton closed at 64.39, up 33 points, currently up 14 points
May 26 Cotton closed at 65.57, up 32 points, currently up 11 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.
