Cotton futures are trading with 19 to 32 point gains so far on Thursday, despite a weaker morning trade and lower export data. The outside markets may be having some affect, as crude is well off the morning lows and up 53 cents at $78.12/barrel. The US dollar index is weaker, down 122 points at 104.00.

This morning’s Export Sales report showed net reductions of 74,207 RB for old crop cotton in the week that ended on July 18, normal for late in the marketing year. Much of that was via 42,400 RB in cancellations by Vietnam. Export bookings totaled 285,874 RB for the new crop marketing year, a high for the forward sales. Shipments were at just 131,310 RB, up from last week, as we near the end of the marketing year.

ICE cotton stocks were down 440 bales on decertification on July 24, leaving 38,026 bales of cert stocks. The Cotlook A Index was down 115 points on July 24 at 79.75 cents/lb. The USDA Average World Price (AWP) was raised 34 points to 56.42 cents/lb, last week and will be updated later today.

Dec 24 Cotton  is at 68.87, up 22 points,

Mar 25 Cotton  is at 70.65, up 24 points,

May 25 Cotton  is at 71.92, up 10 points