AgriCharts Market Commentary

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Cotton

Cotton futures were 68 to 100 points higher on Monday, despite a sharp rise in the US dollar (up 489 points). The US cotton harvest was reported as 14% complete through Sunday, compared to the average of 9%. Ratings came in at 60% gd/ex, down 1% since last week, as the Brugler500 fell 1 to 357. The USDA updated their AWP to 60.91 cents/lb, down 236 points from the previous week. The Cotlook A index for September 22 was down 95 points from the previous day at 78.55 cents/lb. China sold another 29,600 MT of cotton in Monday’s auction of state reserves that saw 30,000 MT offered.

Oct 17 Cotton closed at 70.090, up 100 points,

Dec 17 Cotton closed at 69.460, up 100 points

May 18 Cotton closed at 69.060, up 90 points

Cotton

Cotton futures are currently 12 to 23 points higher in the front months, as nearby Oct is showing no trade. The CFTC Commitment of Traders report had spec traders lowering their net long position by 6,945 contracts in Cotton futures and options. Their net position now stands at 63,339 contracts as of Tuesday. The USDA updated their AWP to 60.91 cents/lb, down 236 points from the previous week. The Cotlook A index for September 22 was down 95 points from the previous day at 78.55 cents/lb. China sold another 29,600 MT of cotton in Monday’s auction of state reserves that saw 30,000 MT offered.

Dec 17 Cotton is at 68.66, up 20 points

Mar 18 Cotton is at 67.7, up 12 points

May 18 Cotton is at 68.390, up 23 points

Cotton

Cotton futures are steady to 10 points lower this morning. They saw mixed trade to end the Friday session, with nearby Oct 5 points higher and deferred contracts lower. The CFTC Commitment of Traders report had spec traders lowering their net long position by 6,945 contracts in Cotton futures and options. Their net position now stands at 63,339 contracts as of Tuesday. The USDA updated their AWP to 60.91 cents/lb, down 236 points from the previous week. The Cotlook A index for September 21 was up 15 points from the previous day at 79.50 cents/lb. China sold another 25,900 MT of cotton in Thursday’s auction of state reserves that saw 26,800 MT offered.

Cotton

Cotton futures saw mixed trade to end the Friday session, with nearby Oct 5 points higher and deferred contracts lower. The CFTC Commitment of Traders report had spec traders lowering their net long position by 6,945 contracts in Cotton futures and options. Their net position now stands at 63,339 contracts as of Tuesday. The USDA updated their AWP to 60.91 cents/lb, down 236 points from the previous week. The Cotlook A index for September 21 was up 15 points from the previous day at 79.50 cents/lb. China sold another 25,900 MT of cotton in Thursday’s auction of state reserves that saw 26,800 MT offered.

Oct 17 Cotton closed at 69.090, up 5 points,

Dec 17 Cotton closed at 68.460, up 21 points

May 18 Cotton closed at 68.160, down 1 point

Cotton

Cotton futures saw mixed trade to end the Friday session, with nearby Oct 5 points higher and deferred contracts lower. The CFTC Commitment of Traders report had spec traders lowering their net long position by 6,945 contracts in Cotton futures and options. Their net position now stands at 63,339 contracts as of Tuesday. The USDA updated their AWP to 60.91 cents/lb, down 236 points from the previous week. The Cotlook A index for September 21 was up 15 points from the previous day at 79.50 cents/lb. China sold another 25,900 MT of cotton in Thursday’s auction of state reserves that saw 26,800 MT offered.

Oct 17 Cotton closed at 69.090, up 5 points,

Dec 17 Cotton closed at 68.460, up 21 points

May 18 Cotton closed at 68.160, down 1 point


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
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