Cotton futures are experiencing gains of 40 to 50 points as of midday on Wednesday. Earlier, President Trump announced a trade deal with Vietnam, which is now not charging tariffs on U.S. goods, significantly impacting U.S. cotton exports, with Vietnam accounting for nearly 24.8% of all commitments for 2024/25.
On the commodity front, crude oil has risen by $1.60 per barrel, while the U.S. dollar index is down by $0.37. The Seam reported sales of 97 bales of cotton during Tuesday’s online auction at an average price of 64 cents, with ICE cotton stocks down by 195 bales to a total of 40,488. The Cotlook A Index also decreased by 125 points to 78.90.
