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Cotton futures closed with Thursday gains of 27 to 37 points as traders position themselves ahead of the Friday reports. The outside factors were mixed, as the US dollar index was up 84 points, with crude oil $0.97/barrel higher.
The weekly Export Sales report is delayed until Friday as the government offices were closed today for a National Day of Mourning for President Carter’s funeral.
The Seam reported 9,804 bales of online sales on January 7 at an average price of 61.64 cents/lb. ICE cotton stocks were unchanged on Wednesday, at 20,113 bales of certified stocks. The Cotlook A Index was back down 10 points on 1/8 at 78.95 cents/lb. The USDA Adjusted World Price (AWP) was up 48 points from the previous week last Thursday at 55.03 cents/lb.
Mar 25 Cotton closed at 68.5, up 27 points,
May 25 Cotton closed at 69.68, up 31 points,
Jul 25 Cotton closed at 70.77, up 37 points
On the date of publication,
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