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Cotton futures rose on Thursday, with contracts increasing by 20 to 40 points. The USDA reported 109,785 RB of 2024/25 cotton sold for the week ending May 29, marking a four-week low. Bangladesh was the largest buyer with 34,200 RB, while 24,700 MT was sold to Vietnam.
Export shipments reached a three-week high of 316,134 RB, primarily going to Turkey (98,300 RB) and Vietnam (87,400 RB). Comprehensive census data for April recorded 1.66 million bales of cotton exported, a three-year high, 37.19% higher than last year, but a decrease of 9.47% from March.
As of June 4, the Cotlook A Index fell 35 points to 78.25, with ICE cotton stocks steady at 53,700 bales. July 25 cotton closed at 65.36 (up 37 points), October 25 cotton at 67.28 (down 13 points), and December 25 cotton at 67.98 (up 21 points).
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