Cotton futures are up 36 points in the October contracts on Wednesday, with other cotnracts down 7 to 10 points. The US dollar index was back down $0.041 to $98.545, as crude oil futures were another $1.15/barrel lower.
Following threats of increased tariffs if India doesn’t stop purchasing Russian oil, President Trump is set to raise tariffs by 25% to 50% on India starting on August 27 if they continue to import Russian oil.
The Seam reported cash online sales of just 10 bales at an average price of 59.15 cents/lb. The Cotlook A Index was up 25 points at 77.75 cents on August 4. ICE cotton stocks were steady on 8/5, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was back down 43 points on last week at 54.52 cents/lb. It is good through Thursday.
Oct 25 Cotton is at 65.95, up 36 points,
Dec 25 Cotton is at 67.01, down 10 points,
Mar 26 Cotton is at 68.35, down 7 points
