Overnight action led cotton futures another 80 points higher in Dec, but current morning prices are just 3 to 58 points in the black heading into the Thursday session and the USDA Export Sales report. Front month cotton futures traded in a relatively tighter 164 point range on Wednesday. At the close the board was 37 to 96 points higher.
USDA’s DSQ reported 681 bales were sold at spot for a season-to-date total of 20,447 bales. ICE maintained 4,552 certified stocks for 9/13. The Cotlook A Index was 85 points higher to 124.25 cents. The AWP for cotton is 94.92 cents/lb for the week.
Dec 22 Cotton closed at 102.71, up 39 points, currently up 3 points
Mar 23 Cotton closed at 99.58, up 57 points, currently down 1 points
May 23 Cotton closed at 97.43, up 55 points, currently up 17 points