Cotton futures are extending higher on Wednesday, with contracts rallying 70 to 80 points, as March is up 124 points in thinner trade. Crude oil futures are down 10 cents per barrel on the day at $65.53. The US dollar index is down $0.180 at $97.595.
The Seam showed sales of 25.330 bales sold on 2/24, averaging 61.69 cents/lb. The Cotlook A Index was down 20 points on Tuesday at 75.55 cents. ICE certified cotton stocks were steady on February 24, with the certified stocks level at 119,457 bales. The Adjusted World Price was up 66 points last Thursday afternoon to 50.05 cents/lb.
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Mar 26 Cotton is at 64.8, up 124 points,
May 26 Cotton is at 66.28, up 72 points,
Jul 26 Cotton is at 67.91, up 72 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.
