Cotton Gains Extending into the Weekend
Cotton futures are up 56 to71 points so far on Friday’s midday. Crude oil is down $0.09/barrel, with the US dollar index down $0.108.
Weekly Export Sales data showed total cotton export bookings shipped and unshipped at 11.696 million RB, which is 109% of the USDA projection and behind the 115% average.
Monday’s Acreage report is expected to show 9.7 million cotton acres planted this spring according to a Bloomberg survey.
The Seam reported just 1,788 bales sold in the Thursday online auction at an average price of 64.80 cents. The Cotlook A Index was up 50 points on 6/26 at 79.15. ICE cotton stocks were down 9,641 on June 26 via decertification, with a certified stocks level of 51,495 bales. USDA’s Adjusted World Price (AWP) was up 15 points on Thursday at 54.18 cents/lb.
Jul 25 Cotton is at 67.63, up 56 points,
Oct 25 Cotton is at 68.85, up 71 points,
Dec 25 Cotton is at 69.36, up 56 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.