Cotton futures closed Wednesday with gains of 43 to 53 points across most contracts on Wednesday. Support came via some outside factors. Crude oil was back up 56 cents/barrel, with the US dollar index down $0.165.
Traders are looking for cotton acreage to total 10 million acres in Monday’s June 30 Acreage report.
The Seam reported just 182 bales sold in the Tuesday online auction at an average price of 59 cents. The Cotlook A Index was up 85 points on 6/24 at 78.40. ICE cotton stocks were down 1,196 bales on June 24, with a certified stocks level of 61,136 bales. USDA’s Adjusted World Price (AWP) was up 1 point last week at 54.03 cents/lb and is effective through Thursday.
Jul 25 Cotton closed at 66.44, up 43 points,
Oct 25 Cotton closed at 67.87, up 43 points,
Dec 25 Cotton closed at 68.32, up 53 points
