Cotton futures are showing slight 15 to 17 point gains across most contracts on Monday’s midday. Crude oil futures are 80 cents lower per barrel at $56.69, with the US dollar index $0.074 to $98.320.
Export Sales data from this morning showed 148,396 RB in cotton sales for the week ending on November 20, a 3-week low. Shipments were back up from the week prior at 120,825 RB.
A delayed CFTC report showed a total of 2,086 contracts trimmed from the spec fund net short in the week ending on 11/18 to 58,243 contracts. CFTC will put out another report this afternoon for the week of 11/25.
Friday’s online auction from The Seam showed sales of 8,516 bales at an average price of 59.57 cents/lb. The Cotlook A Index was back down 25 points on 12/12 at 73.95 cents. ICE certified cotton stocks were steady on December 11 with the certified stocks level at 13,971 bales. The Adjusted World Price was updated to 50.39 cents/lb on Thursday, down 89 points from the previous week.
Mar 26 Cotton is at 63.99, up 16 points,
May 26 Cotton is at 65.08, up 17 points,
Jul 26 Cotton is at 66.1, up 16 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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