Cotton futures are mixed, with March up 5 points and other contracts down 35 to 56 points. Crude oil futures are down 31 cents per barrel on the day at $66.17. The US dollar index is down $0.124 at $97.610.
On Friday, the US Supreme Court ruled the President cannot use the IEEPA for tariff purposes. President Trump later responded by indicating he will issue a 10% blanket tariff, which would expire after 150 days, before raising that to 15% over the weekend.
CFTC data via Commitment of Traders report showed 3,906 contracts added to the managed money net short to 79,508 contracts as of 2/17.
The Seam showed sales of 19,948 bales sold on 2/20, averaging 59.53 cents/lb. The Cotlook A Index was up 45 points on Friday at 74.15 cents. ICE certified cotton stocks were steady on February 19, with the certified stocks level at 119,457 bales. The Adjusted World Price was up 66 points on Thursday afternoon to 50.05 cents/lb.
Mar 26 Cotton is at 63.08, up 5 points,
May 26 Cotton is at 65.07, down 56 points,
Jul 26 Cotton is at 66.81, down 37 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.
