Cotton Futures Rise Despite USDA Report

Cotton futures experienced a modest uptick on Tuesday, despite a less optimistic USDA report, while crude oil futures declined and the US dollar index rose. The USDAs crop production report maintained cotton acreage but increased expected yield, boosting total production and ending stocks. Global cotton stocks remained stable, with a slight increase in unaccounted and domestic use figures. Speculators reduced their net short position, and The Seam reported sales of over five thousand bales at an average price of sixty-point-two cents per pound. The Cotlook A Index dropped, and ICE certified cotton stocks remained unchanged. The Adjusted World Price saw a significant increase.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.