Cotton futures are trading with 35 to 37 point gains across most contracts at midday. Crude oil futures are up 14 cents/barrel to $61.64, with the US dollar index down $0.097 to $98.650.
US and Chinese negotiators had constructive discussions over the weekend in Malaysia, come out with a framework for President Trump and China’s President Xi to discuss this Thursday. Nothing specific on cotton was mentioned, but the two sides coming together is seen as friendly.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
The Friday online auction from The Seam showed 679 bales sold with an average price of 58.95 cents/lb. The Cotlook A Index was back up 25 points on 10/24 at 75.55 cents. ICE certified cotton stocks were steady on October 24, with the certified stocks level at 17,552 bales.
Dec 25 Cotton is at 64.57, up 37 points,
Mar 26 Cotton is at 66.08, up 37 points,
May 26 Cotton is at 67.3, up 35 points
On the date of publication, Austin Schroeder 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 solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
- Corn and Soybean Rallies Just Gave Winter Wheat and Soybean Meal a Kick. What Comes Next?
- How Much Higher Can Wheat Prices Go Now?
- China May Not Be Buying U.S. Soybeans, But Soybean Meal Is a Value Buy for Traders Here
- Grains in Q3- Can the Price Weakness Continue?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
