Cotton Falls Lower on Wednesday
Cotton futures were down 21 to 88 points across most contracts on Wednesday. Crude oil was up 25 cents to $75.09/barrel, as price action was a little quieter. The US dollar index was back down $0.061 to $98.455.
The markets will be closed on Thursday in observance of Juneteenth, with the government closed as well and reports pushed back a day.
The Seam reported 2,244 bales sold in Tuesday’s online sale at an average price of 63.39 cents/lb. The Cotlook A Index was up 60 points on 6/17 at 78.75. ICE cotton stocks up 120 bales via new certifications on June 17, with a certified stocks level of 62,332 bales. USDA’s Adjusted World Price (AWP) was back up 26 points last Thursday at 54.02 cents/lb.
Jul 25 Cotton closed at 64.84, down 21 points,
Oct 25 Cotton closed at 66.11, down 2 points,
Dec 25 Cotton closed at 66.67, down 88 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.