Cotton futures are trading with 90 to 98 point losses so far on Thursday, as contracts correct from near limit gains on Tuesday. The outside markets are stronger, as Crude oil is up $4.09 following the US striking Iran overnight and President Trump stating the ceasefire is over. The US also revoked waivers authorizing Iran oil exports. The US dollar index is up $0.087.
Monthly trade data from Census showed 1.46 million bales of exports during May, which was 15.3% above a year ago and a 3-year high, but down 6.88% from a year ago.
