Wednesday trading closed the session with 95 to 105 point gains for front month cotton futures. Since the last red candle on 12/21, March futures are up 4.2% to the highest since April ’19. The US Dollar index futures dropped below 90 on Wednesday, taking out support from December 17 at 89.64. The Seam reported another 9,893 bales sold on Tuesday for an average gross price of 69.38 cents/lb. That was well below the 20k bales on Monday. USDA reported 17,291 bales sold at spot on Wednesday for an average price of 73.51 cents. The 12/29 Cotlook A index was 20 points higher to 82.85. The AWP is 62.01 c/lb through Thursday.
Mar 21 Cotton closed at 77.97, up 96 points, |
May 21 Cotton closed at 78.57, up 95 points |
Jul 21 Cotton closed at 79.13, up 105 points |
Dec 21 Cotton closed at 75.11, up 100 points |
--- provided by Brugler Marketing & Management
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