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AED • EUR • GBP • USD IBANs   |   CROSS BORDER FX   |   LOCAL CURRENCIES   |   GLOBAL COVERAGE
Cotton

Cotton Gives into Weakness 

Cotton futures closed Wednesday with contracts down 22 to 26 points in the front months, as the outside markets were mixed. Crude oil prices were back up $0.96 on the day, with the US dollar index $0.390 higher to $99.815. 

Weekly NASS Crop Progress data showed 52% of the crop planted as of 5/25, lagging the 56% average. Planting in TX was at 47%, 1% back of normal, with the GA crop 4% back of average at 58%. The crop was also 3% squared, behind the 4% average pace.

The Tuesday online sale from The Seam showed 806 bales sold at an average price of 60.23 cents/lb. The Cotlook A Index was back up 50 points on 5/27 at 78.25. ICE cotton stocks were up 4,277 bales via new certifications on May 27, with a certified stocks level of 46,517 bales. USDA’s Adjusted World Price (AWP) was down 38 points last Thursday at 53.52 cents/lb. It is good through tomorrow. 

Jul 25 Cotton  closed at 65.33, down 24 points,

Oct 25 Cotton  closed at 67.76, down 26 points,

Dec 25 Cotton  closed at 68.1, down 22 points

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