Cotton Falling Back on Wednesday
Cotton futures are showing 118 to 140 point lower trade on Wednesday, as futures continue to fade off the Monday limit gains. The dollar index is back down 22 points so far, with crude oil futures 77 cents/barrel lower.
The Seam reported 1,096 online cash cotton bale sales on September 17, averaging 65.48 cents/lb. ICE cotton stocks were unchanged on September 17, leaving 265 bales of cert stocks. The Cotlook A Index was back up 300 points on September 17 at 84.45 cents/lb. The USDA Adjusted World Price (AWP) was slashed by 127 points last week to 56 cents/lb. It is good through this Thursday.
Dec 24 Cotton is at 70.77, down 139 points,
Mar 25 Cotton is at 72.43, down 126 points,
May 25 Cotton is at 73.57, down 118 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.