Cotton Futures Higher Heading into USDA Export News

Thursday cotton is trading 16 to 91 points higher ahead of the weekly Export Sales report. At the close on Wednesday nearby cotton prices had gained 16 to 34 points. New crop prices were stronger on the day, and tightened the July/Dec inverse to less than a penny. May futures officially expire at the close today, though OI has been very low throughout the delivery process. 

 

USDA’s 5/5 DSQ showed 262 bales were sold at spot. The 5/4 Cotlook A index was up 115 points to 93.05 cents/lb. The AWP for cotton for the week is 73.71 cents/lb, and will be updated after the close.     

 

Jul 21 Cotton  closed at 87.33, up 16 points, and up 91 today

Oct 21 Cotton  closed at 87.01, up 34 points, and they are up 58 this morning

Dec 21 Cotton  closed at 85.4, up 34 points, and up 41 this morning




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