Cotton Slightly Higher After Decent Export Sales Data
Cotton futures are showing 1 to 184 point gains in the front months with some of the deferreds lower. The outside market influences are showing crude oil down 19 cents/barrel and the US dollar index 245 points lower.
Export Sales data from this morning saw an uptick to the old crop cotton bookings in the week of 4/18 to 177,077 RB, an 11-week high. New crop sales were slightly below the week prior at 65,735 RB. Export shipments dropped to a 9-week low of 261,698 RB.
ICE certified cotton stocks were up another 1,170 bales on April 24 at 178,147 bales. The Cotlook A Index was back down 50 points to 88.25 cents/lb on April 24. The AWP dropped another 325 points to 62.18 last week and is good through this Thursday.
May 24 Cotton is at 79.51, unch,
Jul 24 Cotton is at 81.07, up 6 points,
Dec 24 Cotton is at 77.72, up 3 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.