AgriCharts Market Commentary

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Cotton Lower on Turnaround Tuesday

Cotton futures are posting 38 to 85 point losses in most contracts on Turnaround Tuesday. The Crop Progress report indicated that 44% of the US cotton crop was seeded as of Sunday, 1% behind the average pace and 6% behind a year ago. In TX, 20% of the cotton acres were seeded last week, now at 39%, with GA 61% planted. Those are both ahead of normal. The Cotlook A index for May 20 was down 75 points from the previous day to 76.60 cents/lb. The weekly Average World Price (AWP) is now 59.59 cents/lb, down 5.06 cents from last week.

Jul 19 Cotton is at 67.27, down 64 points,

Oct 19 Cotton is at 67.2, down 38 points

Dec 19 Cotton is at 66.86, down 79 points

Mar 20 Cotton is at 67.630, down 85 points

--provided by Brugler Marketing & Management

Cotton 18 to 46 Lower Overnight on Strong Dollar

Cotton futures are currently 18 to 46 points lower with some traders attempting a Turnaround Tuesday fade. They saw 119 to 192 point gains in most contracts on Monday. Rain in parts of northern TX and other parts of the Cotton Belt may slow cotton planting this week. The Crop Progress report indicated that 44% of the US cotton crop was seeded as of Sunday, 1% behind the average pace and 6% behind a year ago. The Cotlook A index for May 17 was up 50 points from the previous day to 77.35 cents/lb. The weekly Average World Price (AWP) is now 59.59 cents/lb, down 5.06 cents from last week.

--provided by Brugler Marketing & Management

Cotton Higher on Monday

Cotton futures saw 119 to 192 point gains in most contracts to start a new week. Rain in parts of northern TX and other parts of the Cotton Belt may slow cotton planting this week. The Crop Progress report indicated that 44% of the US cotton crop was seeded as of Sunday, 1% behind the average pace and 6% behind a year ago. The Cotlook A index for May 17 was up 50 points from the previous day to 77.35 cents/lb. The weekly Average World Price (AWP) is now 59.59 cents/lb, down 5.06 cents from last week.

Jul 19 Cotton closed at 67.910, up 192 points,

Oct 19 Cotton closed at 67.580, up 119 points

Dec 19 Cotton closed at 67.650, up 127 points

--provided by Brugler Marketing & Management

Cotton in the Green at Midday

Cotton futures are 47 to 94 points higher in most contracts on Monday, disregarding thinly traded October. Rain in parts of northern TX and other parts of the Cotton Belt may slow cotton planting this week. CFTC data on Friday afternoon showed specs in cotton futures and options at their largest reported net short position since Feb 2007 at 24,828 contracts as of Tuesday. The Cotlook A index for May 17 was up 50 points from the previous day to 77.35 cents/lb. The weekly Average World Price (AWP) is now 59.59 cents/lb, down 5.06 cents from last week.

Jul 19 Cotton is at 66.93, up 94 points,

Oct 19 Cotton is at 65.99, down 40 points

Dec 19 Cotton is at 66.9, up 52 points

Mar 20 Cotton is at 67.850, up 47 points

--provided by Brugler Marketing & Management

Cotton Market Steady Overnight With No China News

Cotton futures are trading 3 points lower to 17 higher in thin action. They ended Friday 71 to 131 points lower. July was down 3.59% Friday to Friday, with the two week drop at 12.89%. CFTC data on Friday afternoon showed specs in cotton futures and options at their largest reported net short position since Feb 2007 at 24,828 contracts as of Tuesday. USDA’s Export Sales data on Thursday show upland cotton shipments 67% of the projected total, with the normal pace at 75%. Total commitments are now 104% of that total, with the average at 100% for this week. The Cotlook A index for May 16 was down 50 points from the previous day to 76.85 cents/lb. The weekly Average World Price (AWP) is now 59.59 cents/lb, down 5.06 cents from last week.

--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