⛏Cotton Futures
COTTON
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Cotton futures hold higher at midday, with ICE certified stocks falling and managed money increasing net long positions.
Impact on assets 1
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Cotton futures are trading 20 to 30 points higher at midday, with the July contract unchanged. Crude oil rose $1.50 to $70.73 per barrel, while the US dollar index slipped $0.257 to $100.870. Traders await Tuesday's annual June acreage report, with a Bloomberg survey expecting 9.6 million cotton acres planted this spring. Managed money increased its net long in cotton futures and options by 3,309 contracts in the week of June 23, bringing the total to 38,445 contracts. The Cotlook A Index gained 75 points on June 26 to 85.80 cents, and ICE certified cotton stocks fell 2,216 bales on Friday to 185,034 bales.
Cotton futures hold higher at midday, with ICE certified stocks falling and managed money increasing net long positions.