Cotton futures trading higher midday, supported by trade deal with Vietnam.

Cotton futures are trading higher midday with 40 to 50 point gains. Crude oil is up $1.60/barrel while the US dollar index is $0.37 lower. President Trump announced a trade deal with Vietnam, which charges no tariffs on US goods, accounting for 24.8% of all US cotton export commitments for 2024/25.

The Seam reported 97 bales sold in an online auction at an average price of 64 cents. Cotlook A Index was down 125 points on 7/1 at 78.90. ICE cotton stocks decreased by 195 on July 1 via decertification, with certified stocks at 40,488 bales. USDA’s Adjusted World Price was up 15 points last Thursday at 54.18 cents/lb, to be updated tomorrow.

Jul 25 Cotton remains at 66.28, unchanged. Oct 25 Cotton is at 68.15, up 47 points, and Dec 25 Cotton is at 68.51, up 48 points. Austin Schroeder did not have positions in securities mentioned. Information in this article is for informational purposes. Original article from Barchart.com.

Read more at Yahoo Finance: Cotton Holding Gains at Wednesday’s Midday