Cotton futures are trading with 70 to 86 points higher at Monday’s midday. Crude oil is down $6.63 per barrel, with the US dollar index up 0.018.
Friday afternoon’s Commitment of Traders report showed managed money spec funds in cotton futures and options adding another 3,525 contracts to their net long in the week ending on Tuesday to 53,209 contracts.
The NOAA 7-day QPF shows very limited precipitation across much of TX with 1 to 2 inches seen in parts of MS, AL, and GA through the east coast.
The Cotlook A Index was unchanged July 24 at 90.35 cents. ICE certified cotton stocks were unchanged on Friday, with the certified stocks level at 94,235 bales. The Adjusted World Price was trimmed by 155 points on Thursday to 63.82 cents/lb. It is good through next week.
Oct 26 Cotton is at 79.41, up 86 points,
Dec 26 Cotton is at 80.82, up 84 points,
Mar 27 Cotton is at 82.4, up 76 points
