Cotton Closes with Good points on Friday

Cotton futures closed the Friday session with contracts 20 to 25 factors on the day, as March slipped again 8 factors on the week. Crude oil futures have been 55 cents per barrel larger at $56.55. The US greenback index was $0.292 larger to $98.380.

Cotton Ginnings knowledge as of December 15 confirmed a complete of 10.212 million RB of cotton ginned, a rise of 1.567 million RB over the earlier 2 weeks. That whole is down 10% from the identical week final 12 months.

CFTC knowledge confirmed managed cash trimming 4,774 contracts from their internet brief within the week ending on 12/9 to 55,013 contracts.

The December 18 on-line public sale from The Seam confirmed gross sales of 9,858 bales at a median worth of 60.53 cents/lb. The Cotlook A Index was up 30 factors on 12/17 at 73.30 cents. ICE licensed cotton shares have been unchanged on Thursday with the licensed shares degree at 12,396 bales. The Adjusted World Worth was up to date this afternoon to 49.99 cents/lb a 40 level drop from final week.

Mar 26 Cotton  closed at 63.75, up 24 factors,

Could 26 Cotton  closed at 64.84, up 23 factors,

Jul 26 Cotton  closed at 65.86, up 20 factors

On the date of publication, Austin Schroeder didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. This text was initially printed on Barchart.com