Cotton futures were under pressure on Wednesday, as a stronger dollar was weighing on things. Contracts were down 17 to 40 points. Pressure was from a $1.063 gain in the US dollar index to $99.71. Much of that strength came late in the day following the Fed leaving rates unchanged, as expected. Crude oil futures were $1.09/barrel higher. 

On Wednesday morning, President Trump posted that tariffs on India will rise to 25% on August 1, citing the trade deficit and their buying of Russian crude oil.

The Seam showed sales of 309 bales on Tuesday, with an average price of 60.29 cents/lb. The Cotlook A Index was up 10 points at 78.80 cents on July 29. ICE cotton stocks were steady on 7/29, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was up 23 points last week at 54.95 cents/lb. It is good through this Thursday.

Oct 25 Cotton  closed at 65.9, down 40 points,

Dec 25 Cotton  closed at 67.5, down 17 points,

Mar 26 Cotton  closed at 68.84, down 21 points