Cotton Weakens Triple Digits on Wednesday

At the close, Cotton futures were 251 to 254 points in the red. New crop contracts were 144 points weaker with Dec near 85.01 cents. ICE reported 10 new deliveries issued against March cotton futures, bringing the MTD deliveries to 91 (Wells Fargo stopping 69 of them).

The online cotton trading platform The Seam reported 2,237 bales were sold on March second for an average gross price of 83.11 cents. USDA’s Daily Spot Quotations report for 3/3 had 2,192 bales sold at spot. USDA’s basis remained 4.89 cents under in the DSQ report. ICE certified stocks on 3/2 was firm at 99,789. The Cotlook A index for 3/2 was back up 240 points to 96.75 cents/lb. The AWP for cotton is 75.76 cents/lb, and will be updated after tomorrow’s close.

--- provided by Brugler Marketing & Management

  1. ·May 21 Cotton closed at 88.45, down 254 points,
  2. ·Dec 21 Cotton closed at 85.01, down 144 points

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