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Austin Schroeder

Cotton Turning Higher on Wednesday Morning, as Condition Ratings Slip

Cotton Oil Ice NASS Crop Progress United States US Dollar

Cotton price action is 11 to 31 points higher so far on Wednesday morning. Futures were down 49 to 64 points on the Tuesday session. The US dollar index was up $0.575 on the day to $98.265, with crude oil futures $0.96 higher. 

Th weekly NASS Crop Progress report showed 90% of the US cotton crop setting bolls as of Sunday (vs. 93% on average), with 28% listed as bolls opening and behind the 30% average pace. Condition ratings were down 3% to 51% gd/ex, as the Brugler 500 index was down 5 points to 344. 

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