Cotton Weaker on Tuesday | Nasdaq | U.S. Finance News
Cotton futures noticed some weak point on Tuesday with contracts as a lot at 28 factors decrease within the nearbys. The outdoors elements had been supportive, albeit barely. Crude oil had been futures up 9 cents/barrel and the US greenback index $0.081 decrease up to now on the day.Analysts surveyed by Bloomberg estimate subsequent Monday’s Prospective Planting report to show 9.9 million cotton acres. The vary is from 8.8 to 10.5 million acres.
Commodity Bulletin: From crude oil to espresso, this FREE publication is for industry execs and rookies alike The Seam confirmed one other 672 bales in online gross sales on 3/24 at an average price of 54.91 cents/lb. The Cotlook A Index was down 75 factors on Monday at 77.50 cents/lb. ICE cotton stocks had been regular again on March 21, with the present stage of licensed stocks at 14,488 bales. Last week’s replace to the USDA’s Adjusted World Price (AWP), noticed an increase of 87 factors on Thursday afternoon to 54.63 cents/lb. May 25 Cotton closed at 65.14, down 28 factors,Jul 25 Cotton closed at 66.75, down 28 factors,Dec 25 Cotton closed at 68.8, down 13 factors
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Austin Schroeder
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