December cotton bounced back from two days of losses Wednesday, gaining 1.57 to 90.55 as west Texas temperatures neared triple digits.

December cotton prices closed up 1.57 cents at 90.55 Wednesday, recuperating after two days of losses with help from hot temperatures in west Texas. Meanwhile, the seven-day forecast expects moderate rains to help crops across the southeastern U.S.

Surveying conditions around the globe, west Texas stands out as the worst area of drought with hot temperatures at this time. Favorable conditions are reported in eastern Australia, Uzbekistan, Turkmenistan and Tajikistan. Cotton in the North China Plain is expected to benefit from this week’s warm temperatures, and Dow Jones reported that planting is underway in Pakistan and northern India.

Early Wednesday, China’s state reserve sold 14,500 tons of cotton, which was 48% of the amount offered.

The ICE daily stocks report showed certified stocks unchanged on Tuesday at 78,666.

In cash online trading, The Seam showed 1,290 bales sold Tuesday at an average price of 58.84 cents. Average loan value was 36.92 cents and 25,646 bales were offered.

The Cotlook A Index of world values for Tuesday, June 5, was down 1.15 at 99.60 cents, putting the premium over the July futures settlement at 9.76 cents.

Outside markets: The June U.S. dollar index is down 0.21 at 93.66. August gold is down $2.20 at $1,300.00 while July silver is up 14 cents and July copper is up $0.0645. The Dow Jones Industrial Average is up 249 points at 25,049. July crude oil is down $0.70 at $64.82. July heating oil is down $0.0124 while July RBOB gasoline is down $0.0333 and July natural gas is up $0.008.