After seeing a 110-point trading range from -30 to +80, cotton futures ended the weekly session with losses of 1 to 6 points. OI data from ICE suggests that the December contract has only 93 active contracts, with ~789 deliveries to date.
USDA reported that 185,312 bales were classified on 11/28, for a WTD total of 521k bales.
The Seam confirmed that 11,937 bales were sold on 11/28, the largest one-day sale since August 30. The Seam’s average sale price was 78.54 cents, a 1-month high. The Cotlook A Index was 155 points weaker at 89.45 for 11/28. The AWP for this week is 65.23 cents/lb, and will be updated Thursday after the close. ICE certified stocks stand at 87,769 bales.
December 23. Cotton closed at 78.59, down 1 point,
Mar 24 Cotton closed at 79.59, down 1 point,
24 May Cotton closed at 80.23, down 1 point
As of the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
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