Cotton prices are trading with 25 to 30 point gains to start the Wednesday session. Futures rallied on Tuesday, with contracts 145 to 159 points higher at the close. Crude oil was up another $1.76 per barrel, with the US dollar index up 0.254.
Monday afternoon’s Crop Progress showed 73% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 32% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 45% good/excellent, up 1 percentage point on the week. The Brugler500 index was up 1 point to 332. Ratings in TX slipped 2 points, with GA steady.
