Cotton futures are showing slight gains across the front months on Thursday, with December down 35 points. Crude oil futures are down $0.26 per barrel to $58.99 on the day, with the US dollar index $0.009 higher to $100.160.
Export Sales data showed 198,985 RB in cotton export business in the week of October 2, the third largest for the marketing year. Export shipments were 157,757 RB in that week, a MY high.
Managed money was adding 2,736 contracts to their net short position as of September 30 according to delayed Commitment of Traders data. They held a net shot of 64,740 contracts on that date.
The November 19 online auction from The Seam showed 5,724 bales sold at an average price of 58.96 cents/lb. The Cotlook A Index was back up 35 points on 11/19 at 74.65 cents. ICE certified cotton stocks were steady on Wednesday with the certified stocks level at 20,344 bales. The Adjusted World Price is at 51.83 cents/lb through tonight and will be updated later today.
Dec 25 Cotton is at 61.95, down 35 points,
Mar 26 Cotton is at 63.82, up 4 points,
May 26 Cotton is at 65.05, up 2 points
