Cotton futures closed the Wednesday session with contracts down 40 to 59 points across most nearby contracts. The outside markets were pressure factors. Crude oil futures were down 10 cents/barrel, with the US dollar index back up $0.202 on the day.
USDA will release their initial arm chair estimates for the 2025 cotton crop in their Outlook Forum on Thursday. A survey of analysts by Bloomberg shows an average of 10 million planted acres for cotton this year, with a range of 8.8 to 10.8 million acres and down from 11.2 million last year.
The Seam showed 3,282 bales in online sales on February 25, with an average price of 62.14 cents/lb. The Cotlook A Index was back up 60 points on 2/24 at 78.50 cents/lb. ICE cotton stocks were unchanged again on Tuesday at 1,732 bales of certified stocks. The USDA raised their Adjusted World Price (AWP) last week by 68 points to 54.67 cents/lb. It will be updated on Thursday afternoon.
Mar 25 Cotton closed at 65.37, down 59 points,
May 25 Cotton closed at 66.87, down 50 points,
Jul 25 Cotton closed at 67.87, down 43 points
Πηγή: barchart.com