Cotton Collapse on Friday, as Specs Add to Report | U.S. Finance Information
Cotton futures settled the Friday session with contracts down 129 to 135 factors within the entrance months. Could misplaced 209 factors (-3.1%) this week. The skin markets had been strain components. Crude oil futures had been down 40 cents/barrel, with the US greenback index $0.329 increased on the day.
Managed money spec merchants had been including one other 11,067 contracts to their web short as of 2/25, to a file web short of 68,453 contracts.
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Export Gross sales information has whole commitments for export gross sales at 9.61 million RB, which is down 8% from final 12 months and 93% of USDA’s export projection, on tempo with regular. Precise shipments are 4.508 million RB, which is down 16% yr/yr and 44% of the USDA quantity, lagging the 46% average.
The Seam confirmed 4,795 bales in online gross sales on February 27, with an average price of 59.13 cents/lb. The Cotlook A Index was down one other 50 factors on 2/27 at 77.50 cents/lb. ICE cotton shares had been regular on Thursday with the present stage of licensed shares at 12,653 bales. The USDA cut back their Adjusted World Worth (AWP) on Thursday afternoon by 78 factors to 53.89 cents/lb.
Mar 25 Cotton closed at 63.88, down 132 factors,
Could 25 Cotton closed at 65.25, down 135 factors,
Jul 25 Cotton closed at 66.39, down 129 factors
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All data and information on this article is solely for informational functions. For more data please view the Barchart Disclosure Coverage
right here.
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