Cotton futures are posting 15 to 30 point losses so far on Monday. Early on Monday morning, President Trump put out a Truth Social post ordering the military to postpone strikes against Iranian power plants and energy infrastructure for 5 days after weekend tales were “good and productive.” Iran state media responded stating there was no direct or indirect contact with the President. Oil is down $9.03 at midday.
Commitment of Traders data showed specs liquidating a large portion of their net short position in the week ending on 3/17, cutting it by 26,549 contracts. That was the largest Tuesday/Tuesday.
The Seam showed sales of 417 bales on 3/20, averaging 62.42 cents/lb. The Cotlook A Index was down 110 points on March 20 at 78.25 cents. ICE certified cotton stocks were unchanged on Friday, with the certified stocks level at 115,640 bales. The Adjusted World Price was raised by 2.72 cents to 54.22 cents/lb on Thursday.
May 26 Cotton is at 67.03, down 28 points,
Jul 26 Cotton is at 69.17, down 16 points,
Dec 26 Cotton is at 71.74, down 22 points
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