Cotton Back to Weakness on Wednesday
Cotton futures are showing midday weakness, with contracts down 32 to 50 points in most contracts as May is rolling off the board at the close. Crude oil prices back down 60 cents/barrels. The US dollar index is up $0.273 to $99.320.
Later on Tuesday, China and the US agreed to a meeting in Geneva, Switzerland on Saturday. The meeting will take place between Treasury Secretary Bessent and USTR Greer and Chinese Vice Premier He Lifeng. The talks are expected to center on reducing export controls and broader tariffs.
The Tuesday online auction from The Seam showed sales of 4,555 bales at an average price of 69.37 cents/lb. The Cotlook A Index was up 275 points on Tuesday at 80. ICE cotton stocks were unchanged on May 6, with a certified stocks level of 14,049 bales. USDA’s Adjusted World Price (AWP) was up 6 points last week to 54.94 cents/lb.
May 25 Cotton is at 71.94, up 159 points,
Jul 25 Cotton is at 67.33, down 50 points,
Dec 25 Cotton is at 69.2, down 32 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.