Cotton futures are trading with contracts 40 to 60 points higher so far on Friday. Crude oil is back up $1.45 per barrel, with the US dollar index back up $0.189.
Export Sales data has accumulated export business at 12.032 million RB, which is 102% of the USDA export projection. Accumulated shipments are 10.908 million RB, or 93% of the USDA number and lags the 96% shipping pace from last year. New crop business at 2.879 million RB is 36.72% above the same period last year.
The Cotlook A Index was down another 100 points Thursday at 88.75 cents. ICE certified cotton stocks were unchanged on July 30, with the certified stocks level at 90,699 bales. The Adjusted World Price was raised by 84 points on Thursday to 64.66 cents/lb.
Oct 26 Cotton is at 79.83, up 42 points,
Dec 26 Cotton is at 81.21, up 54 points,
Mar 27 Cotton is at 82.84, up 59 points
