Cotton Futures Rally Amid Dry Spell and Decertified Stocks

Cotton futures are experiencing a rally at midday on Wednesday, with prices rising by $0.70 to $1.07 in the front months.

The US dollar index is down $0.124, and crude oil is slipping $0.87 per barrel.

According to NOAA's 7-day QPF, a dry spell continues across Texas, with light rainfall expected in the Gulf region and up to an inch of rain forecasted for parts of Georgia.

The Cotlook A Index increased by 90 points on Tuesday to 93.70 cents, while ICE certified cotton stocks decreased by 1,739 bales due to decertification, leaving a total of 84,632 bales.

The Adjusted World Price was raised by 84 points last week to 64.66 cents per pound and remains in effect until Thursday.