Cotton Slipping Back Lower on Wednesday Morning

Cotton prices are trading with 29 to 40 point losses on Wednesday morning. Futures had some outside market support on Tuesday, with contracts up 30 to 50 points.  Crude oil prices were up 12 cents, with the US dollar index down another $0.413 to $99.875.

NASS pegged the US cotton crop at 40% planted as of Sunday, slightly behind the 5-year average at 43%. The crop was listed at 35% planted in TX, 3 points back of normal, with GA lagging by 4 at 41% planted.Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

The Seam reported 2,465 bales sold on 5/19 at an average price of 63.48 cents. The Cotlook A Index was down 50 points on Monday at 76.75. ICE cotton stocks were up 2,213 bales via new certifications on May 19, with a certified stocks level of 36,366 bales. USDA’s Adjusted World Price (AWP) was back down 91 points last Thursday to 53.90 cents/lb.

Jul 25 Cotton closed at 66.12, up 48 points, currently down 33 points

Oct 25 Cotton closed at 68.62, up 30 points, currently down 40 points

Dec 25 Cotton closed at 68.74, up 40 points, currently down 29 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.

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