Cotton is trading with 24 to 65 point losses so far on Wednesday morning. Futures closed with 27 to 74 point losses on the Tuesday session. The outside factors were mixed, with crude oil down 32 cents/barrel, as the dollar index was down 212 points.

Debate continues about whether declining crop conditions will damage yield prospects enough to offset the increase in acreage reported by USDA last week. Conditions saw a 6% drop in the gd/ex categories to 50% gd/ex, as the Brugler500 index was down 11 points to 331. TX was a 9 point drop, with ratings in GA down 14 points.

ICE certified cotton stocks were down 4,818 bales on decerts, to 54,217 bales on July 1. The Cotlook A Index was down another 175 points on June 27 at 82.95 cents/lb. The USDA Average World Price (AWP) rebounded from the previous week decline, up 1.58 to 58.23 cents per pound. It will be in effect through July 4.  Because of the holiday, the next AWP rate announcement from FSA will be on Friday, July 5 at 8 AM EDT. 

Jul 24 Cotton  closed at 69.33, down 74 points, currently unch

Dec 24 Cotton  closed at 72.7, down 40 points, currently down 24 points

Mar 25 Cotton  closed at 74.39, down 37 points, currently down 28 points