Cotton Rally Holding on Wednesday
Cotton futures are holding the triple digit gains on Wednesday’s midday, with contracts up 140 to 150 points. The dollar index is up just 72 points on the day, with crude oil futures back up $2.00/barrel.
Now Hurricane Francine will make landfall in Louisiana on Wednesday as a category 1.
The Seam ported 1,939 online cash cotton bale sales on Tuesday, averaging 65.45 cents/lb. ICE cotton stocks were unchanged on September 9, leaving 265 bales of cert stocks. The Cotlook A Index was down 30 points on September 10 at 79.10 cents/lb. The USDA Adjusted World Price (AWP) was raised by 29 points from the week prior on Thursday to 57.27 cents/lb.
Dec 24 Cotton is at 69.69, up 148 points,
Mar 25 Cotton is at 71.28, up 144 points,
May 25 Cotton is at 72.57, up 144 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.
