Cotton prices rose 10 to 15 points on Wednesday, following a strong Tuesday trade where futures closed 40 to 45 points higher. Crude oil futures also saw an increase, up 46 cents per barrel. The US dollar index fell to $97.590. Markets will be closed on Thursday for Christmas.

The Tuesday Export Sales report revealed 304,689 RB of cotton sold in the week of December 11, the highest this marketing year. Shipments increased to 134,371 RB, a 5-week high.

CFTC’s commitment of Traders report showed a net short position of 54,833 contracts for managed money in cotton futures and options, with 180 contracts added in the week of 12/16.

Recent online auction from The Seam saw 12,794 bales sold at an average price of 59.15 cents/lb. The Cotlook A Index rose 40 points to 73.70 cents. ICE certified cotton stocks decreased by 796 bales, with certified stocks at 11,600 bales. Adjusted World Price dropped to 49.99 cents/lb.

Cotton futures closed higher on Wednesday, with Mar 26 up 40 points at 64.01, May 26 up 42 points at 65.2, and Jul 26 up 42 points at 66.27.

No positions in mentioned securities were held by Austin Schroeder on the publication date. This information is for informational purposes only. Original article published on Barchart.com.

Read more at Yahoo Finance: Cotton Showing Early Wednesday Gains