Cotton futures are again to larger commerce on Wednesday, as contracts are up 16 to twenty-eight factors at noon. Crude oil futures are up $2.80 per barrel on the day at $65.13. The US greenback index is up $0.425 to $97.485.
USDA’s Ag Outlook Discussion board will launch preliminary steadiness sheet estimates on Thursday, with a Bloomberg survey of analysts on the lookout for 9.2 million acres of cotton to be planted this spring, down 9.3 million acres final yr. Manufacturing is seen down 430,000 bales to 13.49 million bales.
Don’t Miss a Day:
From crude oil to espresso, enroll free for Barchart’s best-in-class commodity evaluation.
The Seam confirmed gross sales of 8,501 bales offered on 2/17, averaging 58.11 cents/lb. The Cotlook A Index was regular once more on Tuesday at 73.85 cents. ICE licensed cotton shares have been up one other 4,496 bales on February 17, with the licensed shares stage at 110,014 bales. The Adjusted World Worth was trimmed to 49.39 cents/lb final week. It’s good via Thursday.
Mar 26 Cotton is at 61.68, up 16 factors,
Could 26 Cotton is at 63.92, up 28 factors,
Jul 26 Cotton is at 65.61, up 24 factors
On the date of publication,
Austin Schroeder
didn’t have (both instantly 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.
For extra data please view the Barchart Disclosure Coverage
right here.
Extra information from Barchart
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
