Cotton Post Limit Gains on Wednesday

Cotton - jordan-jensen-RTDb00SNeKA-unsplash

Cotton futures posted a 3 cent limit gain in the July contract on Wednesday, with other contracts up 68 to 220 points. ICE did expand limits to 4 cents for the Thursday session. The outside market factors are again not supportive, with crude oil $1.32 lower and the US dollar index 289 points higher.

Export Sales data will be released on Thursday morning, with some looking for an improvement to the 156,500 RB for old crop sales reported last week. 

ICE certified cotton stocks were up 913 bales on May 21 at 191,566 bales. The Cotlook A Index was back unchanged on May 21 at 85.60 cents/lb. The AWP dropped another 18 points to 59.46 last week and will be updated on Thursday.

Jul 24 Cotton  closed at 79.38, up 300 points,

Dec 24 Cotton  closed at 77.28, up 200 points,

Mar 25 Cotton  closed at 78.83, up 194 points

On the date of publication, Alan Brugler 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.