Cotton futures rose by 6 to 34 points across most contracts on Monday, June 26. In related commodities, crude oil increased by $1.19 per barrel to $70.42, while the US dollar index fell by $0.247 to 100.880. As of Sunday, 97% of the US cotton crop had been planted, which matches the average pace, with 37% of the crop squared, 1% ahead of normal. Condition ratings have declined to 48% good/excellent, down 5 percentage points from the previous week.
The annual June acreage report is set to be released on Tuesday, with Bloomberg traders anticipating 9.6 million cotton acres planted this spring. The Cotlook A Index rose by 75 points to 85.80 cents, while ICE certified cotton stocks fell by 2,216 bales to a total of 185,034 bales. The Adjusted World Price increased by 151 points to 63.88 cents per pound. Closing figures for cotton are as follows: July 26 at 72 (up 34 points), Dec 26 at 76.45 (down 52 points), and Mar 27 at 77.8 (down 49 points).
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