Cotton futures fell between 10 and 62 points in the first few months, while other contracts rose between 6 and 26 points. July was down 127 points this week and December was up 26 points. The US dollar index was down $0.044 at $98.925. Crude oil was a pressure factor, down $1.14/bbl, money was flowing into the weekend as the president discussed the proposed US-Iran deal.
Trader Engagement data showed that managed money trimmed 7,845 futures and options contracts from its net long position in cotton as of Tuesday, taking it to 54,200 contracts.
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Thursday morning’s USDA export sales report showed 153,622 RB of cotton sold for 2025/26 in the week of May 21. That was a maximum of 4 weeks. Vietnam was the buyer of 48,800 RB, Pakistan bought 41,300 RB and 24,900 RB were sold to China. There were also 112,041 RB in new crop sales that week, a decrease from last week. Pakistan was the buyer of 68,300 RB, of which 26,100 RB were sold to Mexico. Shipments totaled 317,706 RB, a three-week high. Vietnam was the top destination with 101,600 RB, and 70,900 RB went to Pakistan.
The Cotlook A index fell 125 points on May 28 to 86.10 cents. Stocks of ICE-certified cotton increased by 257 bales on Wednesday and the certified stock level was 225,516 bales. The adjusted world price fell another 519 points on Thursday to 63.49 cents/pound.
July 26 Cotton closed at 76.15, 62 points lower.
December 26 Cotton closed at 79.59, up 6 points.
March 27 Cotton closed at 80.72, up 13 points
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com