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Cotton Showing Marginal Losses at MiddayCotton futures are showing Friday weakness of 6 to 13 points in the nearby contracts. The dollar index is down 16 points, with crude oil futures back up 57 cents/barrel to provide some outside support. Export Sales data showed commitments at 4.959 million RB, which is a multi-year low for the current week. That is now 45% of the USDA export projection compared to the 56% average sales pace for the current week. The Seam reported 868 online cash cotton bale sales on Thursday, averaging 67.83 cents/lb. ICE cotton stocks were unchanged on September 26, leaving 265 bales of certified stocks. The Cotlook A Index was down 90 points on September 26 at 84.90 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points last Thursday to 61.06 cents/lb this afternoon. Dec 24 Cotton is at 72.94, down 8 points, Mar 25 Cotton is at 74.71, down 6 points, May 25 Cotton is at 75.74, down 13 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. |
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