ICE cotton futures market edges up

ICE cotton futures market edged up. Contract of May closed at 65.51cent/lb, up 0.26cent/lb and contract of Jul closed at 66.62cent/lb, up 0.23cent/lb. Dry condition in the major cotton producing areas continued with the impending sowing of cotton crops. U.S. corn and soybean prices kept down dragged down by the tariff policy. Though USDA forecast lower U.S. cotton planting areas, the ICE cotton still faced large pressure to rebound.

Cotlook A Index reduced by 1.25cent/lb to 76cent/lb.