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. Wednesday’s online auction from The Seam showed 2,158 sales at an average price of 62.98 cents/lb. The Cotlook A Index was back up 25 points on October 1 to 77.15 cents. ICE cotton stocks were unchanged on 10/1, with the certified stocks level at 17,891 bales. USDA’s Adjusted World Price (AWP) was not reported on Thursday due to the government shutdown. U.S. corn harvesting will be in full swing by mid-October, which suggests increased commercial hedging pressure as corn comes from the field into the local elevators. That could limit the price upside for the corn futures market until harvest starts to wind down in November. Corn traders will continue to monitor progress on new trade deals between the U.S. and its major trading counterparts, including and especially China. Cotton futures prices moved higher to 82.60 cents amid stronger demand from Southeast Asian mills. The upward move coincided with USDA data showing declining U.S. crop conditions compared to last season.