Cotton prices fell, with July and October contracts down 111 points, while December was down 17 points, closing at 68.46. For the week ending June 26, weekly export sales of old crop cotton fell to a market year low of 23,680 RB, with Vietnam buying the largest share at 19,600 RB. New crop sales rose to 106,584 RB, led by Mexico’s purchase of 50,600 RB.
In other commodity news, crude oil decreased by $0.23 to $67.22 per barrel, while the US dollar index rose by $0.341 to $96.770. Census data for May reported 1.26 million bales in cotton exports, a 24.08% decrease from April but a 24.11% increase from the prior year. ICE cotton stocks noted a decrease of 164 bales as of July 2, with certified stocks at 40,324 bales.
