Cotton and Crude Oil Prices Rise Amid Market Developments

Cotton futures experienced significant gains on Tuesday, with increases ranging from 20 to as much as 127 points. The May contract, which saw lighter trading volumes, led this upward trend. Meanwhile, crude oil futures climbed $1.13 per barrel, and the US dollar index rose by $0.701, reaching 98.690.

According to NASS, the US cotton crop is currently 11% planted as of April 20, aligning with the five-year average. In Texas, planting is reported at 16%, matching the typical pace, while Georgia’s planting progress stands at 3% completed, slightly below the average of 4%.

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On April 21, The Seam reported the sale of 1,838 cash bales online at an average price of 61.08 cents per pound. On the same day, the Cotlook A Index increased by 35 points to 77.60 cents per pound. ICE cotton stocks remained stable as of April 21, with certified stocks reported at 14,478 bales. Additionally, the USDA’s Adjusted World Price (AWP) rose by 33 points last Thursday, reaching 53.43 cents per pound.

May 25 Cotton closed at 67.04, up 127 points.

Jul 25 Cotton closed at 67.22, up 40 points.

Dec 25 Cotton closed at 68.71, up 41 points.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. This information is provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are the author’s and do not necessarily reflect those of Nasdaq, Inc.