Cotton prices are back down 6 to 10 points in the nearby contracts on Wednesday, fading back from early gains. Crude oil futures are up 73 cents per barrel at $59.37 on the day, with the US dollar index $0.436 lower to $98.860.
Commitment of Traders data showed managed money trimming 98 contracts from their previous record net short position as of October 21, taking it to 81,245 contracts.
The December 2 online auction from The Seam showed 15,688 bales sold at an average price of 61.31 cents/lb. The Cotlook A Index was back down 10 points on Tuesday at 74.95 cents. ICE certified cotton stocks were steady on 12/2 with the certified stocks level at 19,894 bales. The Adjusted World Price was updated to 50.77 cents/lb last week, down 3 points from the previous week. It will be updated on Thursday.
Dec 25 Cotton is at 62.77, down 6 points,
Mar 26 Cotton is at 64.47, down 10 points,
May 26 Cotton is at 65.63, down 8 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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