Cotton futures closed out the Thursday session with stronger trade, as contracts were up 62 to 64 points. The US dollar index was back down $0.347 on the day to $97.780, with crude oil futures $0.17 higher.
USDA reported a total of 179,333 RB of cotton sold in the week ending on August 21, an improvement from last week of 70.19% and 92.81% above last year in the same week. Vietnam was the top buyer of 88,400 RB with 37,800 RB sold to Bangladesh. Shipments dropped to the lowest since last November at 112,656 RB. The largest destination was Vietnam of 41,000 RB, with 11,500RB headed to Bangladesh.
The Seam reported a total of 290 bales sold on Wednesday at an average price of 60.51 cents/lb. The Cotlook A Index was down 70 points at 78.20 cents on August 27. ICE cotton stocks were steady on 8/27, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 59 points on Thursday at 54.94 cents/lb.
Oct 25 Cotton closed at 66.04, up 63 points,
Dec 25 Cotton closed at 67.3, up 62 points,
Mar 26 Cotton closed at 69.08, up 64 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.
