Cotton Rallying at Midday

Austin Schroeder Barchart Wed Apr 23, 12:15PM CDT
Cotton field by William Dunn via iStock

Cotton futures are in rally mode on Wednesday, with contracts up 91 to 127 points so far. That is despite less than supportive outside market activity, with crude oil futures back down $1.68/barrel and the US dollar index up $0.795 to $99.485. 

The market is getting some support from chatter of easing trade tensions with China, though nothing has been officially released. 

The Seam reported 2,639 cash bales sold online on 4/22, at an average price of 66.93 cents/lb. The Cotlook A Index was up 50 points on Tuesday at 78.10 cents/lb. ICE cotton stocks were steady on April 22 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back up 33 points last Thursday to 53.43 cents/lb. 

May 25 Cotton  is at 68.26, up 122 points,

Jul 25 Cotton  is at 68.49, up 127 points,

Dec 25 Cotton  is at 69.62, up 91 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.