As of early Tuesday, cotton prices have risen by 100 to 111 points following gains of 35 to 56 points across most contracts on Monday. In related markets, crude oil fell by $3.72 after a peace deal between the U.S. and Iran was announced, with the U.S. dollar index down $0.285 at $99.460.
According to the latest Crop Progress report, 86% of the U.S. cotton crop was planted as of Sunday, which is 2% behind the average pace. Condition ratings indicated that 51% of the crop is rated good/excellent, a drop of 2 percentage points from the previous week. The Brugler500 index increased by 1 to 346.
The Cotlook A Index rose by 110 points to 84.75 cents, while ICE certified cotton stocks remained steady at 192,699 bales. The Adjusted World Price dropped by 194 points last week to 61.26 cents per pound.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
