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Cotton Back to Higher Trade on MondayCotton prices are trading with 46 to 54 point gains in the nearbys on Monday. Futures posted losses of 4 to 32 points across most contracts on Friday, as December was down 80 points Friday/Friday. The dollar index was down 91 points, with crude oil futures back up 97 cents/barrel to provide some outside support. Commitment of Traders data from CFTC showed spec traders in cotton futures and options slashing 12,969 contracts from their net short as of Tuesday to 17,549 contracts. The Seam reported 868 online cash cotton bale sales on Thursday, averaging 67.83 cents/lb. ICE cotton stocks were unchanged on September 26, leaving 265 bales of certified stocks. The Cotlook A Index was down 90 points on September 26 at 84.90 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points on Thursday to 61.06 cents/lb. Dec 24 Cotton closed at 72.72, down 30 points, currently up 47 points Mar 25 Cotton closed at 74.52, down 25 points, currently up 53 points May 25 Cotton closed at 75.61, down 26 points, currently up 54 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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