After cooling off earlier in the week, front month cotton prices are back up by 0.9% to 1% for Wednesday’s midday. New crop futures are also trading higher so far, though gains remain limited to 43 points at midday as the spread continues to widen.
The S&P Global cotton area estimate was 10.675 million acres for 24/25.
The Seam confirmed another 23.883 bales were sold on 1/19, to top the 22k on Thursday, for an average gross price of 75.84 cents/lb. The Cotlook A Index increased another 65 points on 1/23 to 94 cents/lb. ICE certified stocks were 1,949 bales as of 1/19. The AWP for cotton is 65.47 cents/lb through Thursday.
Mar 24 Cotton is at 85.39, up 79 points,
May 24 Cotton is at 86.67, up 86 points,
Jul 24 Cotton is at 87.29, up 90 points
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