Cotton price action is up 30 to 40 points on Thursday morning. Futures were 5 to 13 points in the red on Wednesday. Crude oil was back up another $5.44 on Wednesday, adding some premium pack in as the Iran situation continues to unfold despite the International Energy Agency agreeing to release 400 million barrels of ethanol reserves. Crude oil is up another $6.06 this morning. The US dollar index is back up $0.446 at $99.255.
The Cotlook A Index was up 45 points on Tuesday at 75.20 cents. The Seam showed sales on 8,319 bales on March 10, averaging 61.94 cents/lb. ICE certified cotton stocks were down 533 bales on March 10 via decertification, with the certified stocks level at 121,453 bales. The Adjusted World Price was trimmed by 40 points last Thursday to 51.44 cents/lb.
May 26 Cotton closed at 65.17, down 13 points, currently up 40 points
Jul 26 Cotton closed at 67.08, down 9 points, currently up 40 points
Oct 26 Cotton closed at 68.88, down 11 points, currently up 39 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.
