By admin       2018-04-26

Fifty-one May delivery notices issued. Cash online sales declined to 4,603 bales on The Seam, of which 562 bales were grower sales. Cotton futures traded higher in early dealings Wednesday, recovering some of the prior day’s steep losses after a strong commercial stopper emerged for May deliveries. Most-active July ticked up 73 points to 82.24 cents, trading within an 84-point range between 81.52 and 82.36 cents on a contract volume of 4,432 lots. Maturing May gained 86 points to 83.12 cents, confined to a 28-point range between 82.89 and 83.17 cents. December added 47 points to 78.06 cents, trading within a 66-point range between 77.59 and 78.25 cents on a turnover of 1,981 lots. It remained within Monday’s price range. Fifty-one delivery notices were issued for May on this second day of the notice period. SG Americas Securities, LCC issued the notices and all were stopped by Term Commodities, trading arm of Allenberg Cotton Co. These were the first notices of the period. In outside markets, U.S. dollar index futures resumed its rally, trading up 0.455 to 90.990 as the yield on benchmark U.S. Treasuries extended an advance to pierce 3% a second day. U.S. stock indexes traded mixed, up 18 points in Dow Jones Industrial Average futures and down 4.75 points in S&P futures. West Texas Intermediate crude oil dipped 33 cents to $67.37 after a 1.4% drop the prior day and Brent crude dropped 45 cents to $73.41. June gold fell $11.70 to $1,321.40. July corn was up 0.45%, July soybeans up 0.31% and July Kansas City wheat up 0.59%. Asian stocks closed lower, down 0.28% in Japan’s Nikkei 225, 1.01% in Hong Kong’s Hang Seng, 0.62% in South Korea’s Kospi and 0.4% in China’s Shanghai Composite index. European shares were trading lower, down 0.74% in Britain’s FTSE 100, 1.44% in Germany’s DAX and 0.69% in France’s CAC 40. China’s Zhengzhou cotton futures closed mixed and prices settled lower on the China National Cotton Exchange. India’s MCX cotton futures declined and local prices dropped. In ICE cotton futures Tuesday, July extended the prior session’s reversal off a new seven-week high, closing on a steep loss at its lowest finish since April 4. The May-July switch settled at a 93-point July premium on a volume of 3,044 lots, down 167 points from the prior-day 74-point May premium. Inverted July-December traded from 490 to 385 points and narrowed 85 points to settle at a 392-point July premium on 4,899 lots. The December-March settlement lost 26 points to a 12-point March premium on 815 lots. Cash online sales declined to 4,603 bales from 8,970 bales on The Seam. Prices fell to an average of 68.54 cents from 78.71 cents, reflecting a drop to 20.87 cents from 27.67 cents in premiums over loan rates. Offerings were 104,141 bales. Grower-to-business sales of 562 bales brought an average of 51.64 cents per pound, while business-to-business sales of 4,041 bales averaged 70.89 cents a pound. Staples 35 or more made up 225 bales or 40% of the G2B sales and 3,129 bales or 77% of the B2B sales. All sales were from the Southwest. The Cotlook A Index of world values dropped 60 points to 93.20 cents, widening the premium over the prior-day July futures settlement a point to 9.08 cents.

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