Cotton futures closed out the Wednesday session with contracts up 40 to 60 points. Crude oil was up $2.09/barrel at $67.54, with the US dollar index $0.032 lower to $96.435.
Earlier today, President Trump announced a trade deal with Vietnam, stating the country is charging no tariffs on US goods. Nearly 24.8% of all US cotton export commitments for 2024/25 have been for Vietnam.
The Seam reported 97 bales sold in the Tuesday online auction at an average price of 64 cents. The Cotlook A Index was back down 125 points on 7/1 at 78.90. ICE cotton stocks were down 195 on July 1 via decertification, with a certified stocks level of 40,488 bales. USDA’s Adjusted World Price (AWP) was up 15 points last Thursday at 54.18 cents/lb. It will be updated tomorrow.