Cotton futures were in rally mode late on Wednesday, with contracts up 104 to 106 points in the front months. Crude oil was down $1.41/bbl to $68.09. The US dollar index was up $0.243 at $101.200.
The annual June Acreage report showed all cotton acres this spring planted at 9.85 million, which was above the trade ideas of 9.6 million and the March number at 9.64 million acres.
The Cotlook A Index was unchanged on Tuesday at 85.30 cents. ICE certified cotton stocks were unchanged on June 30 with the certified stocks level at 185,034 bales. The Adjusted World Price was back up 151 points last week at 63.88 cents/lb. It will be updated on Thursday.
Jul 26 Cotton closed at 73.28, up 106 points,
Dec 26 Cotton closed at 77.84, up 104 points,
Mar 27 Cotton closed at 79.19, up 105 points
Source: barchart.com