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Cotton Closes Black on Wednesday
After a wide trading range saw action on both sides of UNCH, the cotton market settled Wednesday with gains of less than 20 points. March traded from -31 to +110 on the day.
The Census confirmed cotton exports were 390,390 bales for October. That was a 41% drop from the Sep shipment and was 30% lighter than Oct ’22. The season’s sum reached 2.08m bales through the first three months, compared to 2.54m bales during last year.
The Seam recorded 10,525 bales for the 12/05 sale, with the average gross price listed at 73.18 cents/lb. The Cotlook A Index backed off by 50 points back to 89.80 cents/lb. The AWP was 64.18 cents/lb. It will be updated Thursday after the close by USDA. ICE stocks were shown at 6,186 bales for 12/5.
Mar 24 Cotton closed at 79.75, up 7 points,
May 24 Cotton closed at 80.45, up 18 points,
Jul 24 Cotton closed at 80.93, up 20 points
On the date of publication, Alan Brugler 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.