Cotton Firming Up into Wednesday

Cotton - tijana-drndarski-ZC76ZuGB0uo-unsplash

Cotton prices are recovering 6 to 27 points early on Wednesday. The volatile old crop cotton market turned around on Tuesday with triple digit losses of as much as 195 points. New crop futures firmed off their session lows to close within 5 points of UNCH. 

NOAA’s updated 7-day QPF has rainfall in E. TX and N. LA amounting to as much as 1 3/4”. Northern MS/GA/AL will also get up to an inch over the week. 

The Cotlook A Index was back down by 235 points to 95.60 cents/lb on 3/28. The AWP was 162 points weaker to 70.88 cents/lb. ICE certified stocks were 14k bales higher to 81,664 bales for 4/1.

May 24 Cotton  is at 90.81, down 195 points, currently up 27 points

Jul 24 Cotton  is at 91.71, down 160 points, currently up 27 points

Dec 24 Cotton  is at 84.3, down 5 points, currently up 3 points 

On the date of publication, Alan Brugler 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.