Cotton Back to Rally Mode on Wednesday Morning

Cotton prices were higher in Wednesday morning trading, gaining between 80 and 131 points. The report notes that cotton futures finished Tuesday session mixed, down 35 points to as much as 25 points higher at the close. Energy and macro inputs were also cited: crude oil rose $0.6477 and the U.S. dollar index was up $0.011. Crop Progress data released Monday pegged good/excellent conditions at 38%, down 2 percentage points on the week. The Brugler500 index fell another 9 points to 310, with deterioration reported across TX, KS, OK and several other states, while only NC and MS improved. In Monday’s Seam auction, 892 bales sold at an average of 75.15 cents. ICE-certified cotton stocks stayed steady at 72,626 bales.