Cotton futures rallied across most contracts on Wednesday, with gains of 126 to 181 points. That was despite less than supportive outside market activity, with crude oil futures back down $2.03 /barrel and the US dollar index up $1.015 to $99.705.
The market was supported from chatter of easing trade tensions with China, though nothing has been officially announced.
The Seam reported 2,639 cash bales sold online on 4/22, at an average price of 66.93 cents/lb. The Cotlook A Index was up 50 points on Tuesday at 78.10 cents/lb. ICE cotton stocks were steady on April 22 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back up 33 points last Thursday to 53.43 cents/lb.
