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Cotton Higher So Far on TuesdayCotton futures are posting 40 to 48 point gains in the nearbys so far on Tuesday. The outside markets are pressure factors, with crude oil slipping 12 cents/barrel and the US dollar index 157 points higher. Crop Progress data tallied 97% of the US cotton crop setting bolls, with harvest now listed at 52% complete and 6 percentage points ahead of normal. The final condition rating score showed the crop at 33% gd/ex, down 4% from last week and a Brugler500 index dropping 9 points to 286. The Seam reported 158 bales of online sales on October 28 at an average price of 69.25 cents/lb. ICE cotton stocks were unchanged on Monday, leaving 174 bales of certified stocks. The Cotlook A Index was down another 70 points on October 28 at 82.55 cents/lb. The USDA Adjusted World Price (AWP) was back up 4 points to 59.28 cents/lb last Thursday. Mar 25 Cotton is at 73.01, up 47 points, May 25 Cotton is at 74.58, up 48 points, Jul 25 Cotton is at 75.66, up 47 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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