Cotton futures ended the Thursday session with contracts down 80 to 90 points across the front months. Crude oil futures were down 17 cents/barrel to $60.31, with the US dollar index back up $0.333 to $99.355.
Following the meeting between President Trump and President Xi of China, President Trump posted that China is set to purchase massive amounts other ag goods, though no specifics were given cotton. Tariffs on US ag products are expected to be lifted.
The Wednesday online auction from The Seam showed 8,719 bales sold with an average price of 60.14 cents/lb. The Cotlook A Index was up 45 points on 10/29 at 76.40 cents. ICE certified cotton stocks were steady on October 29, with the certified stocks level at 18,052 bales.
Dec 25 Cotton closed at 65.12, down 89 points,
Mar 26 Cotton closed at 66.69, down 82 points,
May 26 Cotton closed at 67.91, down 80 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.