Cotton futures pushed to new lows on Friday, with contracts down 35 to 41 factors on the shut. December was 113 factors within the crimson this week. Crude oil futures had been again up $1.23 per barrel to $59.92 on the day, with the US greenback index $0.120 greater to $99.170.
USDA raised yield on the US cotton this morning, up 58 lbs/acre, to 919 lbs. That took manufacturing up 900,000 bales to 14.12 million. Exports had been elevated 200,000 bales to 12.2 million, as shares had been up 700,000 bales to 4.3 million.
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The Thursday on-line public sale from The Seam confirmed 834 bales offered with a median worth of 59.91 cents/lb. The Cotlook A Index was down 45 factors on 11/13 at 74.95 cents. ICE licensed cotton shares had been up 1,005 on November 13 with the licensed shares stage at 19,244 bales. The Adjusted World Value was launched for the primary time in additional than a month on Thursday at 51.83 cents/lb. It’s good by subsequent Thursday.
Dec 25 Cotton closed at 62.49, down 41 factors,
Mar 26 Cotton closed at 64.13, down 40 factors,
Might 26 Cotton closed at 65.35, down 35 factors
On the date of publication,
Austin Schroeder
didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All data and knowledge on this article is solely for informational functions.
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