Cotton futures saw significant losses, with July contracts dropping by 275 points, reaching 70.66 cents per pound. The Seam reported sales of 569 bales at 68.44 cents per pound on Thursday. The Cotlook A Index also fell by 250 points, settling at 85.05 cents. Additionally, ICE certified cotton stocks decreased by 2,197 bales to a total of 187,250 bales, while the Adjusted World Price rose by 151 points to 63.88 cents per pound.
In the commodities market, crude oil prices fell by $2.76 to $69.19 per barrel, and the US dollar index decreased by $0.098 to $101.095. According to the NOAA 7-day QPF, Texas is expected to receive very little precipitation in the coming week, with the Gulf through Georgia also projecting limited totals. The 8-14 day outlook shows slightly above normal probabilities for precipitation.
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