Cotton Kicking Off the Week with Gains

Austin Schroeder Barchart Mon Apr 21, 7:31AM CDT
cotton on stem by Mykola Kolya Korzh via Unsplash

Cotton price action is up 4 to 25 points so far. Futures posted gains of 53 to 76 points on Thursday to round out the week with May up 43 points last week. Crude oil futures were up $2.10/barrel on the day, with the US dollar index back up $0.037 to $99.180. 

CFTC Commitment of Traders data showed spec funds adding back 13,273 contracts to their net short position as of April 15 to 42,418 contracts.

USDA’s Export Sales report showed a total of 201,990 RB of cotton sold in the week ending on April 10. That took the total export commitment figure to 10.755 million which is 106% of the USDA export forecast and above the 103% average pace.

The Seam reported 5,231 cash bales sold online on 4/16, at an average price of 64.63 cents/lb. The Cotlook A Index was back up 85 points on Wednesday at 77.25 cents/lb. ICE cotton stocks were steady on April 16 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back up 33 points on Thursday to 53.43 cents/lb. 

May 25 Cotton  closed at 66.32, up 53 points, currently up 25 points

Jul 25 Cotton  closed at 67.13, up 76 points, currently up 4 points

Dec 25 Cotton  closed at 68.44, up 53 points, currently up 6 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.