Cotton Rallying Higher on Wednesday Morning

Cotton price action is up 72 to 84 points early on Wednesday Futures posted gains on Tuesday, with contracts closing 30 to 53 points in the green. Crude oil futures were down $1.13/barrel to $60.16, with the US dollar index down $0.043 to $98.520.

There is some optimism ahead of the Trump/Xi meeting later this evening into Thursday in South Korea.Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

The Monday online auction from The Seam showed 2,151 bales sold with an average price of 61.44 cents/lb. The Cotlook A Index was back up 5 points on 10/27 at 75.60 cents. ICE certified cotton stocks were steady on October 27, with the certified stocks level at 17,552 bales.

Dec 25 Cotton closed at 65.05, up 49 points, currently up 84 points

Mar 26 Cotton closed at 66.6, up 53 points, currently up 84 points

May 26 Cotton closed at 67.8, up 50 points, currently up 84 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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