Commodities
Cotton Futures Rallies on External Market Factors
Cotton futures experienced an uptick on Thursday, gaining strength from external market factors. The contracts closed up 40 to 101 points, influenced by a rally in crude oil and a rise in the US dollar index.
Crude oil prices surged $7.88 per barrel higher during the session, while the US dollar index increased by 255 points. These developments contributed to the cotton market's upward momentum.
The Cotlook A index climbed 10 points on Wednesday, reaching 96.10. Additionally, ICE certified cotton stocks rose by 3,999 bales on September 9, with total certified stocks standing at 50,415 bales.