Cotton are trading with early Wednesday losses of 50 to 60 points. Futures found late strength on Tuesday, with contracts up 1 to 14 points in most front months. The US dollar index was back up $0.162 at $98.480. Crude oil was extending higher, up $3.26 to $99.63.
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 closed at 77.34, up 1 points, currently down unch
Jul 26 Cotton closed at 79.67, up 9 points, currently down 57 points
Dec 26 Cotton closed at 81.11, up 14 points, currently down 50 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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