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Cotton Prices Holding Early Wednesday Gains into Midday
Cotton prices are trading 72 to 88 points higher at midday on Wednesday, about where they were this morning. The US stock market selling off a bit, allowing some of the hot money to seek other places to park. The US dollar index is lower, with September futures about 420 points weaker. ICE cotton stocks were unchanged on July 15, leaving 41,122 bales of certified stocks. The Cotlook A Index was up 80 points on July 16 at 82.60 cents/lb. The USDA Average World Price (AWP) is56.08 cents/lb last week and is effective through Thursday. Dec 24 Cotton is at 72.32, up 95 points, Mar 25 Cotton is at 74.14, up 83 points, May 25 Cotton is at 75.5, up 78 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. |
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