Cotton Futures Rise Amidsteadied Crude Oil Prices and Crop Updates

Cotton futures concluded the Monday session with increases ranging from 65 to 75 points. In related markets, crude oil prices edged up by $0.21 per barrel. The US dollar index, however, dipped by 0.726 to settle at 100.220.

Cotton Crop Progress and Market Insights

The National Agricultural Statistics Service (NASS) reported that 40% of the US cotton crop was planted as of Sunday. This figure is slightly below the five-year average of 43%.

The Seam indicated that 707 bales were sold on May 16 at an average price of 56.15 cents. Additionally, the Cotlook A Index remained unchanged on Friday at 77.25. As of May 16, ICE cotton stocks were steady, reporting certified stocks of 34,153 bales. The USDA’s Adjusted World Price (AWP) fell by 91 points on Thursday, landing at 53.90 cents per pound.

Cotton Futures Closing Prices

July 25 Cotton closed at 65.64, reflecting an increase of 75 points.

October 25 Cotton finished at 68.32, up by 74 points.

December 25 Cotton closed at 68.34, registering an increase of 67 points.

On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. All information provided is intended for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

The views expressed herein are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.