Cotton Prices are trading modestly higher at midday on Wednesday, with most net changes 1 to 8 points for the day. Benchmark December hit 69 cents at the high on Tuesday but is a few dimes off of that thus far on Wednesday. Thinly traded October is in minus territory. Crude oil is down 88 cents per barrel at $65.64 at midday (August contract). was down $0.26/barrel at $66.72, with the US dollar index giving back strong early week gains today, notably vs. the euro.
The Cotlook A Index was down 70 points at 78.75 on July 15. ICE cotton stocks were down 275 bales on July 14 via decertification, with the certified stocks level at 34,234 bales. USDA’s Adjusted World Price (AWP) is 54.71 cents/lb. and in effect through Thursday evening.
