Cotton Trading Off the Lows, but Still Lower at Midday
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Cotton futures are experiencing losses ranging from 62 to 188 points on Wednesday, with May contracts expiring at the close. The US dollar index has decreased by $0.405 to $97.905, while crude oil prices have dropped by $6.71 amid US-Iran negotiations for a memorandum of understanding. The Seam reported 7,483 bales sold at an average of 79.55 cents/lb. The Cotlook A Index rose by 75 points to 92.80 cents, and ICE certified cotton stocks increased by 1,760 bales to 181,952 bales. The Adjusted World Price is now at 65.66 cents/lb, valid through Thursday.
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