AgriCharts Market Commentary

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Cotton Higher on Friday

Cotton futures were up 104 to 152 points in most contracts on Friday. Friday afternoon’s Commitment of Traders report showed another record reported net short position for spec traders in cotton futures and options on Tuesday at 44,270 contracts. Upland cotton export commitments are now 115% of the USDA projection, with the average pace running 107%. With just under a month left in the MY, however, accumulated exports are 91% of that number, with the normal pace at 95%. The Cotlook A index for July 18 was down 50 points from the previous day at 73.70 cents/lb. The weekly AWP is 55.81 cents/lb effective through next Thursday.

OCT 19 Cotton closed at 62.3, up 152 points,

DEC 19 Cotton closed at 63.06, up 135 points

MAR 20 Cotton closed at 63.94, up 106 points

MAY 20 Cotton closed at 65.01, up 104 points

--provided by Brugler Marketing & Management

Cotton Higher at Midday

Cotton futures are trading 88 to 154 points in the green at midday. Upland cotton export commitments are now 115% of the USDA projection, with the average pace running 107%. With just under a month left in the MY, however, accumulated exports are 91% of that number , with the normal pace at 95%. The Cotlook A index for July 18 was down 50 points from the previous day at 73.70 cents/lb. The weekly AWP is 55.81 cents/lb effective through next Thursday. This is still above the 52 cent loan rate, i.e. there is no LDP or MLG. USDA also noted that the “costs to market” adjustment for the 2019/20 crop year will be 15.20 cents/lb and will become effective for the week beginning 12:01 a.m. August 9, 2019.

OCT 19 Cotton is at 62.32, up 154 points,

DEC 19 Cotton is at 62.91, up 120 points

MAR 20 Cotton is at 63.83, up 95 points

MAY 20 Cotton is at 64.85, up 88 points

--provided by Brugler Marketing & Management

Cotton Market Up 48 to 81 Points

Cotton futures are currently 48 to 81 points higher. They were down 65 to 101 points in the front months on Thursday. The Export Sales report indicated that 54,034 RB of 18/19 upland cotton was sold in the week that ended on July 11. That was more than 4 times the same week last year. New crop bookings were the third largest this MY @ 218,900 RB. That was still down 11.63% from the same week last year, with Vietnam buying 100,900 RB. Weekly shipments were shown at 310,285 RB, but only 7,641 RB went to China. The total was down 6.88% from last week and 36.5% larger than the same week last year. The Cotlook A index for July 17 was down 75 points from the previous day at 74.20 cents/lb. The weekly AWP is 55.81 cents/lb effective through next Thursday. This is still above the 52 cent loan rate, i.e. there is no LDP or MLG. USDA also noted that the “costs to market” adjustment for the 2019/20 crop year will be 15.20 cents/lb and will become effective for the week beginning 12:01 a.m. August 9, 2019.

--provided by Brugler Marketing & Management

Cotton Posts Losses on Thursday

Cotton futures were down 65 to 101 points in the front months on Thursday. This morning’s Export Sales report indicated that 54,034 RB of 18/19 upland cotton was sold in the week that ended on July 11. That was more than 4 times the same week last year as Vietnam bought 34,400 RB. New crop bookings were the third largest this MY 218,900 RB. That was still down 11.63% from the same week last year, with Vietnam buying 100,900 RB. Weekly shipments were shown at 310,285 RB, as just 7,641 RB went to China. That was down 6.88% from last week and 36.5% larger than the same week last year. The Cotlook A index for July 17 was down 75 points from the previous day at 74.20 cents/lb. The weekly AWP is 58.05 cents/lb this week and will be updated later today.

OCT 19 Cotton closed at 60.88, down 101 points,

DEC 19 Cotton closed at 61.71, down 78 points

MAR 20 Cotton closed at 62.81, down 81 points

MAY 20 Cotton closed at 63.88, down 65 points

--provided by Brugler Marketing & Management

Cotton Lower on Thursday

Cotton futures are down 39 to 77 points in the front months at midday. This morning’s Export Sales report indicated that 54,034 RB of 18/19 upland cotton was sold in the week that ended on July 11. That was more than 4 times the same week last year as Vietnam bought 34,40 RB. New crop bookings were the third largest this MY 218,900 RB. That was still down 11.63% from the same week last year, with Vietnam buying 100,900 RB. The Cotlook A index for July 17 was down 75 points from the previous day at 74.20 cents/lb. The weekly AWP is 58.05 cents/lb this week and will be updated later today.

OCT 19 Cotton is at 61.12, down 77 points,

DEC 19 Cotton is at 61.9, down 59 points

MAR 20 Cotton is at 63.1, down 52 points

MAY 20 Cotton is at 64.14, down 39 points

--provided by Brugler Marketing & Management


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
Web: http://bruglermarketing.com