Cotton futures saw sharp triple digit gains in most nearby contracts on Wednesday, with help from outside markets. Crude oil futures had climbed back to nearly $60 per barrel yesterday, but were down 38 cents today. The US Dollar index was 249 points lower on Wednesday. Data from the CFTC show the total unpriced on-call position at 14.994 million bales. Online cash sales of 12,003 bales reported by the Seam averaged 72.23 cents/lb on December 26, 135 points higher than the previous day. The Cotlook A index was not reported for December 26 due to the Boxing Day holiday. The current AWP is at 68 cents/lb and should be updated on Thursday.
Mar 18 Cotton closed at 78.950, up 152 points, |
May 18 Cotton closed at 78.920, up 140 points |
Oct 18 Cotton closed at 75.530, up 57 points |