Following the Tuesday drop, cotton futures once more stayed exceedingly organization in July to harsh losses for brand new crop. July rallied triple digits on Wednesday, however in the long run ended the day with a 19 factor loss. New crop futures hit their restrict down (6 cent loss), with October, March and May final there. December bounced again with the aid of using 22 cents for the close, however remains down a internet 10.22 c/lb for the week to date. The marketplace seems to be pricing in decreased call for because of an expected monetary slowdown.
NASS said the cotton crop become 96% planted as of 6/19. That become up 6% factors via the week and is 1% factor above the average. That compares to 23% and 4% on average. Cotton situations from the file have been down 19 factors at the Brugler500 Index to 310. The Cotlook A index become once more UNCH at 161.30 cents for 6/21. USDA raised the Adjusted World Price for cotton with the aid of using 6.06 cents to 140.forty seven cents/lb.
Jul 22 Cotton closed at 143.32, down 19 factors,
Dec 22 Cotton closed at 108.07, down 578 factors,
Mar 23 Cotton closed at 103.67, down six hundred factors
