Cotton futures closed lower on Wednesday, with contracts down 7 to 12 points. Crude oil futures rose $1.26 per barrel to $64.47, while the US dollar index increased by $0.214 to $97.515. On Tuesday, an online auction from The Seam reported sales of 55.62 cents/lb on 8,680 bales. The Cotlook A Index dropped 45 points to 73.35 cents on February 3. ICE certified cotton stocks rose by 2,247 bales to 36,515 bales. The Adjusted World Price was updated to 50.23 cents/lb last week. Closing prices for cotton on March 26, May 26, and July 26 were 62.24, 63.99, and 65.72, respectively. No positions in mentioned securities were held by Austin Schroeder at the time of publication. The information presented is for informational purposes only. Source: Barchart.com.

Read more at Yahoo Finance: Cotton Fails to Hold onto Gain on Wednesday