Cotton futures closed on Wednesday, July 26, 2023, with July contracts rising 49 points to finish at 86.81 cents/lb. The US dollar index increased by $0.215 to reach 98.395, while crude oil prices fell $1.18 to close at $101.00.
The U.S. Department of Agriculture’s monthly WASDE report forecasted the 2025/26 cotton yield at 852 lbs/ac with total production at 13.9 million bales. Old crop ending stocks were pegged at 4.4 million bales, while new crop stocks for 2026/27 are expected to be 3.9 million bales, with initial production projected at 13.3 million bales.
On May 12, The Seam reported sales of 1,110 bales at an average price of 82.50 cents/lb. ICE certified cotton stocks increased by 1,160 bales, totaling 185,378 bales, and the Adjusted World Price rose by 393 points to 69.59 cents/lb.
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