Cotton futures are showing 18 to 31 point gains on Thursday, with outside pressure weighing on things. Crude oil futures are down $97 /barrel to provide some pressure, with the US dollar index up $0.113 on the day.

USDA’s Export Sales report showed a total of 271,814 RB of upland cotton sold in the week ending on March 6, a 3-week high. That was also more than triple the same week last year, as Vietnam was the buyer of 112,700 RB, with 89,300 RB sold to Turkey. Shipments took off to a MY high of 403,461 RB in that week. Vietnam was the top destination at 126,700 RB, with 101,600 RB shipped to Pakistan. 

The Wednesday online auction from The Seam showed 6,631 bales sold, with an average price of 61.51 cents/lb. The Cotlook A Index was back down 10 points on 3/12 at 77.85 cents/lb. ICE cotton stocks were steady again on Wednesday, with the current level of certified stocks at 14,488 bales. The USDA slashed their Adjusted World Price (AWP) last Thursday afternoon by 201 points to 51.88 cents/lb. It will be updated again later today.

May 25 Cotton  is at 66.67, down 31 points,

Jul 25 Cotton  is at 67.85, down 31 points,

Oct 25 Cotton  is at 69.74, down 18 points