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Cotton Trading Higher on Wednesday, but Inside Tuesday’s Range
Cotton Prices are trading modestly higher at midday on Wednesday, with most net changes 1 to 8 points for the day. Benchmark December hit 69 cents at the high on Tuesday but is a few dimes off of that thus far on Wednesday. Thinly traded October is in minus territory. Crude oil is down 88 cents per barrel at $65.64 at midday (August contract). was down $0.26/barrel at $66.72, with the US dollar index giving back strong early week gains today, notably vs. the euro. The Cotlook A Index was down 70 points at 78.75 on July 15. ICE cotton stocks were down 275 bales on July 14 via decertification, with the certified stocks level at 34,234 bales. USDA’s Adjusted World Price (AWP) is 54.71 cents/lb. and in effect through Thursday evening. Oct 25 Cotton is at 66.78, down 43 points, Dec 25 Cotton is at 68.6, up 1 point, Mar 26 Cotton is at 69.85, up 1 point 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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