Cotton futures saw sharp triple digit gains in most nearby contracts on Wednesday, with help from outside markets. Crude oil futures had climbed back to nearly $60 per barrel yesterday, but were down 38 cents today. The US Dollar index was 249 points lower on Wednesday. Data from the CFTC show the total unpriced on-call position at 14.994 million bales. Online cash sales of 12,003 bales reported by the Seam averaged 72.23 cents/lb on December 26, 135 points higher than the previous day. The Cotlook A index was not reported for December 26 due to the Boxing Day holiday. The current AWP is at 68 cents/lb and should be updated on Thursday.

Mar 18 Cotton closed at 78.950, up 152 points,

May 18 Cotton closed at 78.920, up 140 points

Oct 18 Cotton closed at 75.530, up 57 points

Market Commentary provided by:

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