Cotton futures finished Friday’s session with a loss of 5 to 30 points, as December was below 104 in the week. Crude oil is at $ 2.10 /barrel $ 68.67, the US dollar index is more than $ 0.233 $ 97.555.
The monthly update of the USDA balance sheet showed an increase of 300,000 bundle in US cotton exports on 11.8 million bales. This tightened the US shares with the same amount of 4.1 million lumps. For the new crop, the offset of production which is a carriageover drop, with an increase of 600,000 bundle with a total of 8.66 million harvesting acres and 14.6 million villages. The yield was trimmed by 11 pounds/AC. Still the approximate carouts increased to 4.6 million lumps due to an increase in supply.
Don’t remember one day: From crude oil to coffee, sign up free for the best-in-class commodity analysis of Barkart.
A total of 3,180 contracts of traders report on Friday afternoon added a total of 3,180 contracts in the Money Net short position managed in cotton and options. It was on 46,090 contracts till the small Tuesday.
Cotlook A Index 7/10 increased by 45 points at 78.60. Ice Cotton Stock on 10 July 14 lumps were below the dictation, with certified stock levels at 35,333 lumps. The USDA’s adjusted World Price (AWP) returned 63 points at 54.71 cents/LB on Thursday afternoon.
25 October Cotton Closed at 66.2, 5 points down,
25 December Cotton Closed at 67.42, 31 points down,
March 26 cotton 68.75 closed at 68.75
On the date of publication, the Austin Shroder did not have the positions mentioned in any securities mentioned in this article (either direct or indirectly). All information and data in this article is only for informative purposes. For more information, please see the Barkart Disclosure Policy here.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
