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Barchart
Austin Schroeder

Cotton Showing Slight Gains on Wednesday Morning

Cotton Oil Ice United States US Dollar

Cotton price action is steady to 11 points higher so far on Wednesday morning. Futures fell from early session highs, as contracts closed within 5 points of unchanged on Tuesday. Crude oil futures are down $0.16 per barrel on the day at $64.20. The US dollar index was up $0.042 to $96.730. 

USDA’s update to the WASDE balance sheet showed a 200,000 bale cut to exports, as ending stocks were raised by 200,000 bales to 4.4 million bales. World ending stocks were raised by 630,000 bales to 75.11 million bales.

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