Cotton futures fluctuated between a gain of 4 points and a loss of 14 points at midday, with May 26 Cotton at 70.68 cents (down 8 points), July 26 Cotton at 72.98 cents (up 4 points), and December 26 Cotton at 74.94 cents (down 14 points). The U.S. dollar index increased by $0.347 to $99.805, while crude oil prices soared by $10.54 amid President Trump’s recent address regarding ongoing military actions affecting the Strait of Hormuz.
For the week ending March 26, export sales data revealed that a total of 371,475 running bales (RB) of 25/26 cotton were sold, marking a six-week high and significantly above last year’s figures. New crop sales stood at 117,271 RB, the second highest for the marketing year, contributing to total sales of 488,746 RB, the largest in six weeks. February cotton exports were recorded at 1.072 million bales, a 10-year low for the month, but up by 15.51% compared to January.
On April 1, The Seam reported 2,488 bales sold at an average of 63.03 cents per pound, while certified cotton stocks remained unchanged at 114,665 bales. The Adjusted World Price increased by 25 points to 54.47 cents per pound and will be updated later today.
