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Cotton Slipping Lower at Midday
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Cotton futures are trading with 1 to 9 cent losses in the front months on Tuesday, shrugging off early gains. The US dollar index is $0.195 lower at $99.660. Crude Oil is $2.30 higher at $114.71. Crop Progress data was released this morning, showing 5% of the US cotton crop planted by Sunday. That matched the 5-year average and was 1% ahead of the same date last year. Coffee Prices Tumble on Abundant Global Supplies Weak Chocolate Demand Weighs on Cocoa Prices Brazilian Real Strength Lifts Arabica Coffee Prices Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! The Seam showed 5,473 bales sold on Thursday at an average of 68.66 cents/lb. The Cotlook A Index was back up 75 points on 4/2 at 81.50 cents. ICE certified cotton stocks were up 14,972 bales on new certifications on April 6, with the certified stocks level at 128,213 bales. The Adjusted World Price was raised by 252 points last Thursday to 56.99 cents/lb. May 26 Cotton is at 71.58, down 9 points, Jul 26 Cotton is at 73.83, down 1 points, Dec 26 Cotton is at 75.71, down 4 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
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