Cotton Closes Lower to End the Week
Commitment of Traders data showed spec traders adding a total of 1,415 contracts to their net short position as of July 22 to a net 39,879 contracts.
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As we near the end of the marketing year, total Export Sales commitments are 11.768 million RB, which is 107% of USDA's expected number and behind the average 116% pace. Actual shipments have totaled 10.778 million RB, which is 98% of that number and beating the 95% average pace.
The Seam showed sales of 801 bales on Thursday, with an average price of 62.77 cents/lb. The Cotlook A Index was unchanged at 78.70 cents on July 24. ICE cotton stocks were down 18 bales on decertification on 7/24, with the certified stocks level at 21,617 bales. USDA's Adjusted World Price (AWP) was up 23 points on Thursday at 54.95 cents/lb.
Oct 25 Cotton closed at 67.01, down 33 points,
Dec 25 Cotton closed at 68.23, down 48 points,
Mar 26 Cotton closed at 69.65, down 48 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. This article was originally published on Barchart.com
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