Cotton Slipping Lower into the Weekend
The Seam showed sales of 385 bales on Thursday, with an average price of 68.25 cents/lb. The Cotlook A Index was unch at 79.30 on July 17. ICE cotton stocks saw 1,144 decertifications on 7/17, with the certified stocks level at 23,481 bales. USDA's Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb.
More News from Barchart
Coffee Prices Retreat Due to a Stronger Dollar
Cocoa Prices Finish Sharply Lower as Global Cocoa Demand Craters
Dollar Strength Sparks Long Liquidation Pressures in Coffee Futures
Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today!
Oct 25 Cotton is at 66.83, down 42 points,
Dec 25 Cotton is at 68.57, down 23 points,
Mar 26 Cotton is at 69.91, down 17 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

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CNET
2 hours ago
- CNET
Trump's 'Big Beautiful Bill' Makes Sweeping Tax Changes: Here Are the New Deductions You Can Expect
Trump's OBB adds a few new tax deductions worth keeping in mind. CNET The "One Big Beautiful Bill Act" was signed into law by President Donald Trump in early July, and by now, you've probably heard a lot of heated debate about its provisions. Beyond all that divisiveness, you might at least have some new tax deductions coming your way. The OBB is essentially a massive government funding and spending bill, sweeping in scope by design. Initially designed as a measure to extend the tax cuts implemented during Trump's first term in the White House, it was expanded to encompass a much wider range of his second-term political goals. This includes cutting many of the green energy tax credits introduced during the Biden administration and allocating a historically massive increase in funding for ICE. In order to offset the cost of extending the 2017 tax cuts, the bill is also set to make huge cuts to Medicaid, including adding new requirements that could result in nearly 12 million people losing their coverage. All of those provisions have sparked intense debate and scrutiny across the political spectrum, and rightly so, but if you're hoping for even a small silver lining, you're in luck. Included alongside all those huge changes are a handful of new tax deductions. While the extension of the Trump tax cuts might not mean much change for your tax dues, these new policies might do the trick, at least a little bit. To help you get a handle on what new options you'll have come tax season, I've pulled together a list of the new deductions created by the OBB and how you might be able to use them. For all the details, keep reading, and to find out about another new money policy created by the bill, check out my explainer on the newborn investment savings accounts. 'No Tax on Tips' deduction The idea for this new deduction has been floating around for a while, gaining traction from both major party tickets during the 2024 election. I've written about it at length in the past when it was being proposed, but under the OBB, a tax deduction for tipped income is officially on the way. Starting with your income for the 2025 tax year, you'll be able to claim a deduction for tipped income if you work a job that the IRS says is "customarily and regularly receiving tips." Annoyingly, there isn't a list of such professions available yet, but the IRS is required to release one by Oct. 5. Despite that name, there are some limits on how much tipped income you can claim. The maximum deduction is $25,000, and that amount begins to phase out for people making $150,000 or more in a year, or $300,000 for joint filers. So is this deduction even a good idea? While it might be a bit of relief for certain taxpayers, the jury's definitely still out on that question. Critics have argued that a deduction won't address the underlying issue of tipped workers earning low hourly wages and might push more jobs toward a tip-based model to avoid taxation. 'No Tax on Overtime' deduction This one goes hand-in-hand with the "no tax on tips" deduction and works in a similar way. Under this policy, you can deduct the pay you get from working qualified overtime from your reported income. The limit on the deduction is $12,500 for single filers and $25,000 for joint filers. It has the same $150,000/$300,000 income limits as the tipped income deduction. 'No Tax on Car Loan Interest' deduction The third major new deduction you need to know about concerns interest paid on a car loan. This deduction will allow you to claim up to $10,000 in such interest paid throughout the tax year, but the loan will have to originate after Dec. 31, 2024. Essentially, it's meant to encourage new car loans, so that loan you've been working on since, say, 2019 doesn't count, sorry to say. It also applies only to loans on new cars for personal use. So anyone who gets a loan for a used car or a car for their business need not apply for this deduction. The income limits are also slightly different for this one: $100,000 for single filers and $200,000 for joint filers. A tax deduction just for being a senior citizen? Aside from those deductions, there's also the somewhat curious "deduction for seniors" created by the OBB. It's as simple as it sounds: a $6,000 deduction you can claim just for being 65 or older. That goes up to $12,000 for couples where both spouses are senior citizens. And good news if you were born on Dec. 31, 1960: You only need to have turned 65 on or before the last day of the tax year to qualify for this deduction. The income limit is set at $75,000 for single filers and $150,000 for joint filers. When do these deductions take effect? All of the deductions I broke down for you above will be in effect for the 2025 tax year and stick around through the 2028 tax year. That neatly lines up with the timeline for Trump's second term in office, a trend that can be seen all over the OBB's provisions. Benefits to the American people last throughout his remaining time in office, while detriments don't kick in until he leaves in 2029. Critics have tarred this as an attempt to avoid the blame for the bill's negative aspects by passing them onto whoever occupies the White House next. For more, check out CNET's in-depth breakdown of Trump's tariff plans.
Yahoo
2 hours ago
- Yahoo
Corn Bears Hold onto Losses at Monday's Close
Corn futures closed out the Monday session holding to their bearish sentiment from earlier in the day. Contracts were down 5 to 6 cents at the close. The CmdtyView national average new crop Cash Corn price was down 5 1/4 cents at $3.71 3/4. USDA reported a private export sale of 225,000 MT of corn to Mexico this morning all for 2025/26. Another 229,000 was sold to unknown destinations, with 35,000 MT for 2024/25 and 194,000 MT for 2025/26. More News from Barchart Does the 2025 Corn Crop Have a Pollination Problem? Weather Shocks vs. Oversupply: Are You Trading SRW Wheat's Next Big Move? Adverse Brazilian Weather and Tariff Concerns Boost Coffee Prices Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Crop Progress data indicated 76% of the US corn crop was silking as of 7/27, 1 point back of the 5-year average. The crop was 26% in the dough stage, vs. the 24% average. Condition ratings were down 1 point at 73% gd/ex and 384 on the Brugler500 index. USDA tallied corn export shipments at 1.522 MMT (59.93 mbu) during the week ending on July 24. That was up 54.55% from last week and 42.16% above the same week last year. Of that total, 610,316 MT was headed to Japan, with 460,381 MT on its way to Mexico. Marketing year exports have totaled 60.34 MMT (2.376 bbu), which is 29.25% above the same period last year. Over the weekend, President Milei of Argentina announced a reduction in the export tax for corn back to 9.5%, from 12%. AgRural estimates the Brazilian second corn crop at 68% harvested as of Thursday, shy of the 91% complete from the same week last year. Sep 25 Corn closed at $3.93 3/4, down 5 3/4 cents, Nearby Cash was $3.78 1/2, down 6 1/4 cents, Dec 25 Corn closed at $4.14, down 5 cents, Mar 26 Corn closed at $4.31 1/4, down 5 1/4 cents, New Crop Cash was $3.71 5/8, down 5 1/4 cents, 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

Miami Herald
3 hours ago
- Miami Herald
Home Depot denies claims of cooperation with ICE deportations
With the Trump administration pulling off all brakes for a wide-scale deportation campaign, businesses both big and small have felt pressure to take a stance against the targeting of migrants. Avelo Airlines, a Houston-based low-cost airline that serves many secondary markets, spurred a wave of protests across different cities for continuing to use three of its Boeing 737-800s (BA) planes to run deportation flights for U.S. Customs and Immigration Enforcement (ICE). Don't miss the move: Subscribe to TheStreet's free daily newsletter Back in May, chief executive Andrew Levy added further fuel to the fire by saying that the contract to "support the Department's deportation efforts" was "controversial [but...] too valuable not to pursue." The latest company to fall under the radar of how it can help or hinder Trump's deportation campaign is home goods chain giant Home Depot (HD) . Parking lots of store locations in several parts of California became the main target for ICE raids this summer. In one standoff at the start of June, federal agents rounded up and took away over 40 day laborers people at a location in the Westlake neighborhood of Los Angeles. Parking lots in front of the store often end up becoming gathering spots for those looking for temporary work. Many laborers come from Latin American countries such as Guatemala, Nicaragua, and Honduras and get offered day jobs from small employers who come to the parking lots to seek them out. "They are trying to earn a living and have a tough decision to make: pop my head out and get deported or don't and can't support my family," George Carrillo, who heads the national Hispanic Construction Council, said to CNBC. Related: Home Depot makes a startling closure amid concerning trend As a result, many rumors around what role Home Depot itself is playing in these round-ups have circulated on social media. To contradict them, representatives have been replying under posts claiming that the retailer has accepted a $250 million Department of Homeland Security (DHS) contract for access to their parking lots to conduct deportations. "Hi, this story is false," Home Depot wrote under one such post. "We don't have contracts with DHS or ICE. We aren't notified that ICE activities are going to happen, and we aren't involved in them." Under another post making a similar claim on July 27, Home Deport similarly stated that these claims "are false" and that it "isn't involved" in any raids. Even so, Home Depot has faced mounting pressure to speak out against the campaigns in the communities they operate in. Some social media users have called for a boycott, while others have been replying under every post on the Home Depot account with questions about what it is doing to close off store grounds to deportations. "Why have you continued to allow ICE raids on your properties?" one commenter with the profile name Laurie wrote under Home Depot's denial of signing an ICE contract. More on travel: United Airlines places big bet on new flights to trendy destinationGovernment issues new travel advisory on popular beach destinationAnother country just issued a new visa requirement for visitors "Like many businesses, we have a longstanding no-solicitation policy, which prohibits anybody from selling goods or services on our property," a Home Depot spokesperson told CNBC. "[...] We instruct associates to report the incident immediately and not to engage in the activity for their safety." Related: Lowe's, Home Depot add return policy that will outrage customers The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.