Cotton Futures Higher After Big Day Wednesday

Cotton prices are trading anywhere from 9 to 82 points higher. The dollar index futures reached the lowest value since March 18 overnight before rebounding a bit. At the close Wednesday, old crop cotton futures were 233 to 238 points stronger. New crop prices were up 115 to 133 points. The US dollar index was down 210 points on the day, supporting commodities priced in dollars. Zhengzhou Cotton Prices were lower for the 3rd straight day, down 25 yuan/MT to 14,750 (~ $1.02/bale).

USDA’s Daily Spot Quotations report showed just 343 bales sold in the 4/14 report. The Cotlook A index was back down by 210 points on 4/13 to 87.40 cents/lb. USDA’s AWP for cotton is 64.92 cents/lb and will be updated after the close.

May 21 Cotton  closed at 84.2, up 238 points, with overnight gains of 82 points

Jul 21 Cotton  closed at 85.52, up 233 points, and up 78 more this morning

Dec 21 Cotton  closed at 82.71, up 125 points, and are another 9 higher this morning

Market Commentary provided by:

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