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How did crude oil affect the US cotton market?

Crude oil pressured the market, with losses of $74.02/barrel, with the US dollar index down 622 points. Crop Progress data showed 70% of the US cotton crop planted, on par with the average pace. The crop was also 9% squared, 1% faster than normal.

What happened to cotton stocks in May?

Stocks at the end of the month were 1,221 RB, down 56% from last year. ICE certified cotton stocks were back up 2,260 bales on May 31 at 125,675 bales. The Cotlook A Index was down another 330 points on May 31 at 86.80 cents/lb.

Why are farmers selling cotton seeds in the black market?

Since the demand for certain brands went up, stocks of these varieties were getting exhausted quickly and the traders are utilising the opportunity to sell the same seeds in the black market at higher prices. As the Southwest Monsoon is expected to touch Telangana this week, farmers are frantic to buy cotton seeds.

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