Cotton futures are currently posting gains of 93 to 120 points on Wednesday. The Federal Reserve is expected to increase interest rates this afternoon, with the announcement expected out at 1:00 p.m. CST. The average farm cash price range was raised 3 cents to 63-69 cents, with the mid-point up to 66 cents/lb in the WASDE report . On the world side, production in India was trimmed 0.5 MMT, and Pakistan was down 0.95 MMT. The Cotlook A index was down 75 points from the previous day to 83.45 cents/lb on December 12. Online cash sales of cotton rose to 21,066 bales on the Seam, with prices 79 points higher at 69.23 cents/lb.

Mar 18 Cotton is at 74.11, up 120 points,

May 18 Cotton is at 74.53, up 103 points

Jul 18 Cotton is at 74.8, up 93 points

Market Commentary provided by:

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