Cotton prices are up 24 to 34 points so far on Tuesday morning. Futures posted Monday gains of 206 to 234 points across the front months at the close, as traders came out of the weekend with a better feeling on the Chinese situation. Crude oil was down $4.49 to $94.22, with the US dollar index down $0.894 to $99.468.
US Treasury Secretary Bessent and Chinese counterparts met this weekend in Paris to prep for the meeting between President Trump and President Xi later this month. Following the meeting it was noted that China was open to buying more US ag goods, specifically more non-soybean row crops, i.e. possibly cotton.
The Seam showed sales on 4,207 bales on Friday, averaging 59.31 cents/lb. The Cotlook A Index was up 5 points on March 13 at 75.75 cents. ICE certified cotton stocks were unchanged on 3/13, with the certified stocks level at 116,789 bales. The Adjusted World Price was back up just 6 points on Thursday to 51.50 cents/lb.
May 26 Cotton closed at 68.19, up 234 points, currently up 24 points
Jul 26 Cotton closed at 70.06, up 217 points, currently up 34 points
Oct 26 Cotton closed at 71.67, up 206 points currently unch
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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