Cotton Trading Mostly Lower Early on Wednesday

Cotton prices were mostly lower early on Wednesday, with Wednesday’s session showing declines of 70 to 97 points. The front-month July contract, however, was up 65 points at the time referenced, following sharper front-month losses in the old-crop complex of 125 to 148 points. Other contracts were down between 12 and 87 points. Crude oil fell another 81 cents per barrel to $73.19, while the US dollar index rose by $0.391 to $101.165. Crop Progress reported 92% of the US cotton crop planted as of Sunday, 2% behind the average, with 27% “squared” and conditions at 53% good/excellent. The Seam reported 501 bales sold Monday at an average of 71.92 cents, and ICE certified stocks were unchanged at 189,447 bales.