Cotton prices are up 10 to 17 points across most nearby contracts on Wednesday morning. Futures were steady to 7 points lower across most contracts on Tuesday. Crude oil futures were down 73 cents per barrel at $58.59 on the day, with the US dollar index $0.102 lower to $99.260.
Commitment of Traders data showed managed money trimming 98 contracts from their previous record net short position as of October 21, taking it to 81,245 contracts.
The December 1 online auction from The Seam showed 6,106 bales sold at an average price of 60.03 cents/lb. The Cotlook A Index was up 10 points on Monday at 75.05 cents. ICE certified cotton stocks were down 450 bales on 12/1 with the certified stocks level at 19,894 bales. The Adjusted World Price was updated to 50.77 cents/lb last week, down 3 points from the previous week.
Dec 25 Cotton closed at 62.77, down 6 points, currently unch points
Mar 26 Cotton closed at 64.57, down 6 points, currently up 17 points
May 26 Cotton closed at 65.71, down 7 points, currently up 16 points
