Cotton futures are trading with contracts 20 to 30 points higher, as in delivery July is unch. Crude oil is up $1.50/bbl to $70.73. The US dollar index is down $0.257 at $100.870.
The annual June acreage report will be released on Tuesday, with traders surveyed by Bloomberg looking for 9.6 million cotton acres planted this spring.
Managed money was increasing their net long in cotton futures and options by 3,309 contracts in the week of 6/23, taking it to 38,445 contracts.
The Cotlook A Index was up 75 points on June 26 at 85.80 cents. ICE certified cotton stocks were down 2,216 bales on Friday with the certified stocks level at 185,034 bales. The Adjusted World Price was back up 151 points on Thursday afternoon at 63.88 cents/lb.
Jul 26 Cotton is at 71.66, unch,
Dec 26 Cotton is at 76.68, up 30 points,
Mar 27 Cotton is at 78, up 26 points
