Cotton futures declined, with contracts closing 28 to 40 points lower. As of the latest session, the May 26 Cotton futures closed at 71.31 cents, down 36 points; July 26 Cotton at 73.54 cents, down 30 points; and December 26 Cotton at 75.47 cents, down 28 points. The US dollar index decreased by $0.375 to $99.480, while crude oil prices fell by $2.03 amid discussions between the US and Iran regarding a proposed ceasefire.
As of Sunday, 5% of the US cotton crop is planted, matching the five-year average and outpacing the same date last year by 1%. The Seam reported 5,473 bales sold at an average price of 68.66 cents per pound. Additionally, certified cotton stocks increased by 14,972 bales to a total of 128,213 bales. The Adjusted World Price rose by 252 points to 56.99 cents per pound.
