Cotton futures closed 151 to 333 points lower in Friday’s session. This week July was in the red by 412 points, while December fell by 355 points. The US dollar index was up $0.467 at $99.195. That day, crude oil was up $4.49 at $105.66.
Some details announced after the meeting with President Trump and China’s President Xi left the market in suspense. President Trump said this morning that American farmers would be very happy with a trade deal with China. The market didn’t seem that confident.
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CFTC data showed that managed funds moved to 59,570 contracts by adding another 8,386 contracts of cotton futures and options in the week ending 5/12.
The USDA export sales report from Thursday now shows US export turnover at 10.863 million RB, which is 97% of the USDA forecast and 105% behind the average sales pace. Export shipments are 71% of the USDA forecast and 73% behind the average pace.
The seam showed sales of only 6 bales on May 14 at an average price of 60 cents/lb. The Coutlook A index was back up 50 points at 96.65 cents on Thursday. ICE certified cotton stock was 6,670 bales on 5/14, certified stock level was 193,114 bales. The adjusted world price rose 228 points on Thursday to 71.87 cents/lb.
26 july cotton Falling 333 points to close at 80.61,
26 December cotton Falling 259 points to close at 81.89,
27 march cotton Fell 253 points and closed at 82.53
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