Cotton Futures Already Halfway to Expanded Limit Gain

Cotton - kelly-sikkema-8A7qKkvm_ew-unsplash

Cotton is rallying again this morning with futures up by 333 of the 500 point limit into the Wednesday session. Nearby cotton prices closed with as much as 4 cent gains. The March contract finished 417 points higher as OI has dwindled to 39 contracts. The new crop contracts were 73 to 136 points higher led by the also thin October. 

Tightening US stocks and still decent export demand has the market doing its best to ration out demand with higher prices. 

The Cotlook A Index dropped by 80 points to 100.70 cents for 2/26. The AWP was 168 points stronger at 75.12 cents. ICE certified stocks were 997 bales as of 2/21. 


Mar 24 Cotton  closed at 100.75, up 417 points, currently up 324 points

May 24 Cotton  closed at 98.8, up 400 points, currently up 333 points

Jul 24 Cotton  closed at 97.68, up 400 points, currently up 295 points 

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.