Cotton futures prices today’s cotton futures prices stand at

Today’s cotton futures prices stand at 82.00 cents, staying within the month’s trading range. Market chatter suggests that speculative funds are scaling into positions with an eye on the historical seasonal uptrend. Friday’s online auction from The Seam showed 1,187 sales at an average price of 62.46 cents/lb. The Cotlook A Index was steady at 77.70 cents on September 26. ICE cotton stocks were again steady on 9/26, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 41 points last week at 54.38 cents/lb. September soybean meal futures hit a two-week low last Friday and on the week lost $13.10 a ton. Meal will have to show price strength soon if the soybean bulls want to keep the present price uptrend on the daily chart alive. If soybean bulls can push and close prices above solid chart resistance at the June high of $10.74 1/4, they would gain power strength to suggest a challenge of $11.00 a bushel. Positive sentiment in agricultural commodities is lifting cotton futures prices to 82.50 cents. Traders see potential for further gains if weather models continue to project dry conditions across West Africa’s cotton-producing regions.