cotton
ICE cotton futures experienced a slight decline on Thursday, driven by a stronger dollar index and a cautious market approach. The market’s limited movement comes as traders anticipate the USDA’s cotton export sales report, which is expected to provide valuable insights into current demand dynamics. Cotton prices dip slightlyAccording to trade analysts, the ICE cotton December contract settled at 72.62 cents per pound (0.453 kg), marking a decrease of 14 points. Similarly, the March contract dropped by 9 points, closing at 73.96 cents per pound. Selling pressure was noted above the 73-cent lev...
Invezz
The US Department of Agriculture (USDA) has released its World Supply and Demand Estimate (WASDE) for May 2024, forecasting a significant increase in global cotton supplies for the 2024-25 season. According to the report, cotton production is expected to rise by 5.4 million bales, each weighing 480 pounds, with total global production projected at 119.05 million bales. This boost in production is anticipated to lead to a rise in both global consumption and ending stocks. Domestic and international cotton dynamicsThe report highlights that of the total production, 116.86 million bales will be c...
Invezz
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