Cotton Slipping Back on Monday Morning
Weekly CFTC data showed a total of 7,626 contracts cut from the net short position among spec traders in cotton futures and options. The collective group was net short 38,464 contracts as of July 15.
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The next week is looking at dryness for much of Texas, with some of the Southeast forecast to receive 1 to 2 inches, with amounts rising towards the Gulf.
The Seam showed sales of 385 bales on Thursday, with an average price of 68.25 cents/lb. The Cotlook A Index was unch at 79.30 on July 17. ICE cotton stocks saw 1,144 decertifications on 7/17, with the certified stocks level at 23,481 bales. USDA's Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb.
Oct 25 Cotton closed at 67.12, down 13 points, currently unch
Dec 25 Cotton closed at 68.68, down 12 points, currently down 10 points
Mar 26 Cotton closed at 69.98, down 10 points, currently down 10 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. This article was originally published on Barchart.com
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