Cotton futures are trading with midday gains of 7 to 15 points on Tuesday, shrugging off early weakness. Crude oil is down another $4.10 per barrel, with the US dollar index down 0.224.
Weekly Crop Progress data showed 81% of the US cotton crop squared as of Sunday, now steady with normal. The crop was also 45% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 46% good/excellent, up 1 percentage point on the week. The Brugler500 index was up 4 points to 336. Ratings in TX were up 10 points, with GA steady. Just LA, OK, TN, and VA were reported with deteriorating conditions.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.The Cotlook A Index was down 125 points Monday at 89.10 cents. ICE certified cotton stocks were down 3,536 bales on July 27, with the certified stocks level at 90,699 bales. The Adjusted World Price was trimmed by 155 points last week to 63.82 cents/lb. It is good through Thursday.
Oct 26 Cotton is at 79.47, up 13 points,
Dec 26 Cotton is at 80.98, up 10 points,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.- Sell Wheat Now as Prices Fall on Russia-Ukraine Rumors
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