Cotton futures are trading with midday losses of 65 to 76 points across most contracts at midday. Crude oil futures were up 19 cents/barrel to $60.69, with the US dollar index back up $0.298 to $99.320.
Following the meeting between President Trump and President Xi of China, President Trump posted that China is set to purchase massive amounts other ag goods, though no specifics were given cotton. Tariffs on US ag products are expected to be lifted.
The Wednesday online auction from The Seam showed 8,719 bales sold with an average price of 60.14 cents/lb. The Cotlook A Index was up 45 points on 10/29 at 76.40 cents. ICE certified cotton stocks were steady on October 29, with the certified stocks level at 18,052 bales.
