Cotton Futures Reverse Tuesday Decline in Early Going

Cotton futures are 17 to 33 points higher. Turnaround Tuesday left cotton futures 25 to 46 points lower, being reversed this morning. Since the start of the month, December futures are 36 points higher, but have traded within a 2.88 cent range. Monday action on The Seam saw a 15 week high of 14,787 bales sold at a 68.07 cents/lb average price. USDA’s Daily Spot Quotations report confirmed 15,653 bales were sold on the 17th for an average of 66.19 cents. The Cotlook A index fell back 20 points to 76.45 c/lb on the 16th. This week’s AWP for cotton is 56.71 cents/lb. Certified stocks from ICE were 6,944 bales higher to 107,126 bales. Memphis alone has 77,119 bales certified and available for December futures delivery.

--- provided by Brugler Marketing & Management

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