Cotton futures posted a rally or 110 to 150 factors throughout most contracts on Friday, as March closed out the week with a 92 level acquire. Crude oil futures was down 4 cents per barrel on the day at $66.36. The US greenback index was down $0.170 to $97.685.
USDA’s Export Gross sales report from this morning confirmed 466,253 RB of cotton bought within the week of two/12. That was a advertising and marketing 12 months excessive and the larges sale for a single week since June 2023. Vietnam was the most important purchaser of 144,800 RB, with 126,400 RB to Bangladesh, and 50,000 RB to Pakistan. Shipments had been 172,615 RB, a 5-week low. The most important vacation spot was Vietnam at 51,500 RNB, with 36,700 RB bought to Turkey.
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CFTC knowledge by way of Dedication of Merchants report confirmed 3,906 contracts added to the managed cash web brief to 79,508 contracts.
The Seam confirmed gross sales of 27,314 bales bought on 2/19, averaging 59 cents/lb. The Cotlook A Index was up 15 factors on Thursday at 73.70 cents. ICE licensed cotton shares had been up one other 2,382 bales on February 19, with the licensed shares stage at 119,457 bales. The Adjusted World Worth was up 66 factors on Thursday afternoon to 50.05 cents/lb.
Mar 26 Cotton closed at 63.03, up 110 factors,
Could 26 Cotton closed at 65.63, up 149 factors,
Jul 26 Cotton closed at 67.18, up 145 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 data and knowledge on this article is solely for informational functions.
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