Cotton futures closed out Thursday with contracts 3 to 25 points in the green. The outside markets may have had some effect, as crude was well off the morning lows and up 77 cents at $78.36/barrel on the day.
This morning’s Export Sales report showed net reductions of 74,207 RB for old crop cotton in the week that ended on July 18, normal for late in the marketing year. Much of that was via 42,400 RB in cancellations by Vietnam. Export bookings totaled 285,874 RB for the new crop marketing year, a high for the forward sales. Shipments were at just 131,310 RB, up from last week, as we near the end of the marketing year.
ICE cotton stocks were down 440 bales on decertification on July 24, leaving 38,026 bales of cert stocks. The Cotlook A Index was down 115 points on July 24 at 79.75 cents/lb. The USDA Average World Price (AWP) was raised cut by 140 points to 55.02 cents/lb, and is good through next Thursday.
Dec 24 Cotton closed at 68.9, up 25 points,
Mar 25 Cotton closed at 70.66, up 25 points,
May 25 Cotton closed at 72.02, up 20 points
Πηγή: barchart.com