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Cotton futures are experiencing midday losses of 6 to 10 points, with March 26 Cotton at 63.87 cents, down 6 points; May 26 Cotton at 64.92 cents, down 8 points; and July 26 Cotton at 65.95 cents, down 8 points. Crude oil futures are down $1.02 at $59.06 per barrel.
In the week ending November 6, Dated Export Sales data revealed cotton sales of 292,146 RB, surpassing the previous week’s sales and marking a 27.55% increase compared to the same week last year. Shipments totaled 135,898 RB, a decrease from the week prior.
Delayed CFTC data as of October 28 indicated a managed money net short position of 74,093 contracts of cotton futures and options, a reduction of 7,152 contracts from the previous week. The Cotlook A Index decreased by 50 points to 74.20 cents.
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