Cotton price action is up 109 to 120 points on Wednesday morning. Futures closed the Tuesday session with contracts 9 points lower to 6 points higher. Crude oil was up $1.05 per barrel on the session, with the US dollar index $0.375 lower.
The weekly Crop Progress report showed 82% of the US cotton crop with bolls opening as of Sunday. Harvest was tallied at 31%, running 2 percentage points ahead of normal. Condition ratings were pegged at 34% good/excellent, up 2 percentage points on the week. The Brugler500 index was back up 2 points to 292.
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