Cotton futures are up 65 to 75 points so far on Monday. The US dollar index is $0.386 higher at $100.365. Crude oil futures are up $3.86 to $103.50 at midday.
Spec funds trimmed another 6,757 contracts from their net short position as of Tuesday, taking it to 33,448 contracts.
March Intentions data is expected to show cotton acreage at 9.229 million acres according to a Reuters survey of analysts, which would be slightly below last year.
The Seam showed 5,391 bales sold on 3/27 at an average of 67.79 cents/lb. The Cotlook A Index was up 125 points on March 27 at 80.10 cents. ICE certified cotton stocks were unchanged on Friday, with the certified stocks level at 114,665 bales. The Adjusted World Price was raised by 25 points last Thursday to 54.47 cents/lb.
May 26 Cotton is at 70.2, up 74 points,
Jul 26 Cotton is at 72.44, up 74 points,
Dec 26 Cotton is at 74.68, up 66 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.
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