Cotton futures saw a rise of 43 points in July, with contracts priced at 72.92 cents per pound, while December contracts dropped to 76.35 cents and March contracts to 77.56 cents. The USDA’s latest Export Sales report indicates that old crop cotton commitments stand at 11.541 million running bales (RB), accounting for 101% of the adjusted export projection, while shipments total 9.183 million RB, representing 80.3% of the USDA estimate.
In a recent WASDE report, the USDA cut old crop stocks by 200,000 bales to 4.2 million bales, raising export estimates to 12.2 million bales. Cotton sales from The Seam reached 1,071 bales at an average price of 63.24 cents per pound. Additionally, ICE certified cotton stocks are down to 192,699 bales as of June 12, and the Adjusted World Price decreased by 194 points, settling at 61.26 cents per pound.
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