Cotton futures posted stronger trade on Wednesday, with contracts up 10 to 16 points. The outside markets were mixed, as the US dollar index was down $0.252 on the day to $98.095 and crude oil futures $1.80 lower.
The weekly NASS Crop Progress report showed cotton condition ratings down 3% to 51% gd/ex, as the Brugler 500 index was down 5 points to 344. By state, TN ratings were down 42 points, with TX steady on the week and GA 14 points lower.
The Seam reported 279 bales sold on Tuesday at an average price of 64.03 cents/lb. The Cotlook A Index was steady at 77.95 cents on September 2. ICE cotton stocks were steady on 9/2, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 59 points last week at 54.94 cents/lb.
Oct 25 Cotton closed at 64.73, up 16 points,
Dec 25 Cotton closed at 66.21, up 16 points,
Mar 26 Cotton closed at 68.06, up 15 points
Source: barchart.com