Cotton futures are trading with contracts 105 to 120 points lower across most contracts on Wednesday. Crude oil is back up $5.20 per barrel, with the US dollar index up 0.024. The Fed will release their decision on rates this afternoon, with most looking for no chang though there are a few analysts looking for a potential hike.
The next 7 days looks for a drier forecast in TX, with the delta looking for a wetter pattern.
The Cotlook A Index was up 100 points July 28 at 90.10 cents. ICE certified cotton stocks were unchanged on Tuesday, with the certified stocks level at 90,699 bales. The Adjusted World Price was trimmed by 155 points last week to 63.82 cents/lb. It is good through Thursday.
Oct 26 Cotton is at 78.01, down 120 points,
Dec 26 Cotton is at 79.45, down 108 points,
Mar 27 Cotton is at 81, down 111 points
