Cotton Futures Locked Limit Up

Cotton isn’t trading ahead of the weekly Export Sales data release, as futures are locked limit up. Global stock markets are higher, along with crude oil. Gold is down sharply. Cotton closed with Thursday gains of at least 3 cents through July ’22 on Thursday. December touched the 4 cent daily limit, but retreated during the afternoon. The Dollar Index was lower again on Thursday after reaching highs earlier this week. 

Cotton sales on The Seam were reported at 4,892 bales for Wednesday at an average cash price of $1.015/lb. USDA’s Daily Spot Quotations report showed 6,662 bales were added to the program on 10/14. The 10/13 Cotlook A index fell back 340 points to 115.30. The new AWP for cotton is 1.07 cents stronger than the previous week at 92.88 cents/lb. 

Dec 21 Cotton  closed at 107.1, up 324 points, up 400 this morning

Mar 22 Cotton  closed at 104.95, up 311 points, up 400 this morning

May 22 Cotton  closed at 103.97, up 302 points, up 400 this morning

Market Commentary provided by:

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