Cotton Slips Weaker on Wednesday
Harvesting cotton field by Leila Melhado via iStock Cotton price action was down 1 to 26 points across most contracts on Wednesday. Thinly traded October was down the hardest. Crude oil was up a dime per barrel at $66.62, with the US dollar index giving back strong early week gains today, down $0.320 to 97.990.
The Seam showed sales on 2,521 bales on Tuesday, with an average price of 61.21 cents/lb. The Cotlook A Index was down 70 points at 78.75 on July 15. ICE cotton stocks were steady on July 15, with the certified stocks level at 34,234 bales. USDA’s Adjusted World Price (AWP) is 54.71 cents/lb. and in effect through Thursday evening.
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Oct 25 Cotton closed at 66.95, down 26 points,
Dec 25 Cotton closed at 68.56, down 3 points,
Mar 26 Cotton closed at 69.83, down 1 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. This article was originally published on Barchart.com
