Cotton Rally on Wednesday
Cotton futures ended the Wednesday session with contracts up 60 to 192 points across the board. The dollar index was up just 112 points on the day, with crude oil futures back up $1.68/barrel.
Now Hurricane Francine will make landfall in Louisiana on Wednesday as a category 1.
The Seam ported 1,939 online cash cotton bale sales on Tuesday, averaging 65.45 cents/lb. ICE cotton stocks were unchanged on September 9, leaving 265 bales of cert stocks. The Cotlook A Index was down 30 points on September 10 at 79.10 cents/lb. The USDA Adjusted World Price (AWP) was raised by 29 points from the week prior on Thursday to 57.27 cents/lb.
Dec 24 Cotton closed at 69.61, up 192 points,
Mar 25 Cotton closed at 71.17, up 171 points,
May 25 Cotton closed at 72.36, up 156 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.