Cotton futures are trading with midday losses of 47 to 63 cents so far on Wednesday. The US dollar index was back down $0.327 to $97.600, as crude oil futures are down another 84 cents.
USDA showed a total of 840,000 planted acres and 1.3 million harvested acres cut from cotton on Tuesday with yield up 53 lbs to 862 lbs/ac. Production was still trimmed by 1.39 million bales to 13.21 million bales. That, mixed with a 100,000 bale cut to old crop stocks to 4 million bales, helped to tighten the new crop stocks. That was down 1 million bales to 3.6 million with a 500,000 bale cut to exports.
