Cotton futures are trading with 62 to 188 point losses in the front months on Wednesday. May expires at the close. The US dollar index is $0.405 lower at $97.905. Crude oil is down $6.71 at midday following the US and Iran closing in on reaching a memorandum of understanding that would, among other things, allow for the safe passage through the Strait of Hormuz as well as a path to ending to conflict.
The Seam showed 7,483 bales sold on May 5 at an average of 79.55 cents/lb. The Cotlook A Index was up 75 points on Tuesday at 92.80 cents. ICE certified cotton stocks were up 1,760 bales on 5/5, with the certified stocks level at 181,952 bales. The Adjusted World Price was up another 40 points last week to 65.66 cents/lb. It is good through Thursday.
May 26 Cotton is at 82.46, up 188 points,
Jul 26 Cotton is at 84.11, down 69 points,
Dec 26 Cotton is at 84.65, down 62 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
