Tuesday’s cotton trading has already seen a 111 point range, as futures gapped higher at the overnight open. Midday prints have the board working 12 to 31 points in the black.
NOAA’s 7-day QPF has more rainfall for the TX/LA Gulf, with accumulations of as much as 4”. Most areas, including N.W. TX and OK, will expect to receive 1”. Northern MS/AL/GA will mostly miss out during this period.
The Cotlook A Index was 130 points lower to 93.55 cents/lb on 1/29. USDA’s weekly Cotton Market Review had 95,183 bales sold for the week, quoting the average price at 81.24 cents/lb. The AWP increased by 217 points to 67.64 cents for the week. ICE certified stocks were 999 bales as of 1/26.
Mar 24 Cotton is at 84.46, up 20 points,
May 24 Cotton is at 85.71, up 14 points,
Jul 24 Cotton is at 86.42, up 7 points
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