Cotton price action is holding steady on Wednesday AM trade. Futures were 15 to 46 points higher on Tuesday. The US dollar index was $0.310 higher at $99.035. Crude oil finished the day with late pressure, as reports surfaced of a potential 1-month ceasefire on the Middle East conflict. Iran has reportedly rejected the negotiations.
The Seam showed sales of 4,911 bales on March 23, averaging 66.47 cents/lb. The Cotlook A Index was down 40 points on Monday at 77.85 cents. ICE certified cotton stocks were unchanged on 3/23, with the certified stocks level at 115,640 bales. The Adjusted World Price was raised by 2.72 cents to 54.22 cents/lb last Thursday.
