Cotton is showing Turnaround Tuesday losses of 131 to 152 points so far at midday. Crude oil is $3.81 per barrel, with the US dollar index $0.275 higher.
Weekly Crop Progress data showed 89% of the US cotton setting bolls as of Sunday, with 29% of the crop with bolls opening. Condition ratings were pegged at 39% good/excellent, up 2 percentage points on the week. The Brugler500 index was down another 2 points to 302 as poor/very poor ratings were up 3%. Ratings in Texas slipped another 2 points to 260.
The Seam reported sales of 75 bales on August 31 at an average price of 85.63 cents/lb. ICE certified cotton stocks were unchanged bales on Monday, with the certified stocks level at 63,178 bales. The Adjusted World Price was raised by another 190 points last week to 71.52 cents/lb.
Oct 26 Cotton is at 90.39, down 131 points,
Dec 26 Cotton is at 91.62, down 152 points,
Mar 27 Cotton is at 93.78, down 136 points
