Cotton futures fell slightly on Tuesday, closing within 5 points of unchanged. Crude oil futures dropped by $0.16 per barrel to $64.20, while the US dollar index rose by $0.042 to $96.730. USDA’s WASDE update cut exports by 200,000 bales, raising ending stocks to 4.4 million bales and world ending stocks to 75.11 million bales.

Cotton Ginnings data revealed 507,350 RB ginned from Jan 15 to Feb 1, with a marketing year total of 13.202 million RB. The Seam reported sales of 10,196 bales on 2/9 at an average of 58.01 cents/lb. ICE certified cotton stocks rose by 1,597 bales on Feb 9, totaling 95,158 bales. The Adjusted World Price dropped to 49.78 cents/lb last Thursday.

Cotton futures for Mar 26 closed down 2 points at 61.59, while May 26 Cotton closed up 2 points at 63.78, and Jul 26 Cotton closed up 3 points at 65.48. Austin Schroeder did not hold any positions in the mentioned securities. This article was originally published on Barchart.com.

Read more at Yahoo Finance: Cotton Closes Near Unchanged on Tuesday