AgriCharts Market Commentary

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Thursday Cotton Mostly Lower

Cotton futures were mixed after Thursday’s round of trading. Dec futures rallied to finish up 4 points after midday lows. The other nearby futures finished 4 to 7 points lower. The 11/13 Cotlook A Index regained 40 points to 75.40 cents/lb. As of 11/14, cash sales on The Seam reached 12,734 (ave. price of 57.76 cents/bale) bales through the week. That is 63.3% of last week’s total accumulated sales, and is up 3,718 bales over last week’s pace through 11/06. The USDA FSA updated the AWP for cotton to 57.06 cents/lb, that is back up 46 points following last week’s number. The New AWP will be good until 11/21’s update.

DEC 19 Cotton closed at 64.26, up 4 points,

MAR 19 Cotton closed at 66.01, down 4 points

MAY 20 Cotton closed at 67.2, down 4 points

JUL 20 Cotton closed at 68.3, down 7 points

--provided by Brugler Marketing & Management

Cotton Giving Back Wednesday Gains

Cotton futures are giving back some of Wednesday’s gains. Nearby contracts are 5 to 13 points lower so far. CONAB issued a 2.73 MMT forecast for the 19/20 Brazilian cotton crop, which is 10,000 above the October estimate. The 11/13 Cotlook A Index regained 40 points to 75.40 cents/lb. Later this Afternoon the USDA FSA will update the AWP for cotton, last week they revised it 70 points lower.

DEC 19 Cotton is at 64.15, down 7 points,

MAR 19 Cotton is at 65.97, down 8 points

MAY 20 Cotton is at 67.19, down 5 points

JUL 20 Cotton is at 68.24, down 13 points

--provided by Brugler Marketing & Management

Cotton Market 7 to 24 Points Higher Overnight

Cotton futures are 7 to 24 points higher this morning offsetting some of the 29 to 52 points lost on Wednesday. CONAB issued a 2.73 MMT forecast for the 19/20 Brazilian cotton crop, which is 10,000 above the October estimate. The Seam reported online cotton sales of 7,082 on 11/12. Cotton exports to China have been low enough over the last few years to persuade some analysts to adjust 2020/21 cotton planted acreage down; of course as harvest is still under way for this crop. Bear in mind there is a lot that can happen from now until then. The Nov 12th Cotlook A Index dropped 95 points, down to 75.00 cents/lb.

--provided by Brugler Marketing & Management

Cotton Finish with Wednesday Losses

Cotton futures were 29 to 52 points lower after the close. CONAB issued a 2.73 MMT forecast of 19/20 Brazilian cotton crop, which is 10,000 above the October estimate. The Seam reported online cotton sales of 7,082 on 11/12. Cotton exports to China have been low enough over the last few years to persuade some analysts to adjust 2020/21 cotton planted acreage down; of course as harvest is still under way for this crop. Bear in mind there is a lot that can happen from now until then. The Nov 12th Cotlook A Index dropped 95 points, down to 75.00 cents/lb. The AWP of 56.63 cents/lb will be updated tomorrow.

Dec 19 Cotton closed at 64.22, down 52 points,

Mar 20 Cotton closed at 66.05, down 45 points

May 20 Cotton closed at 67.24, down 44 points

Jul 20 Cotton closed at 68.37, down 29 points

--provided by Brugler Marketing & Management

Cotton Lower at Wednesday Midday

Cotton futures are 31 to 37 points lower at midday. CONAB reported a 2.73 MMT forecast of 19/20 Brazilian cotton crop, which is 10,000 above the October estimate. The USDA crop progress report indicated 62% of the US 2019/20 cotton crop has been harvested. The Nov 12th Cotlook A Index dropped 95 points, down to 75.00 cents/lb. The AWP of 56.63 cents/lb will be updated tomorrow.

DEC 19 Cotton is at 64.37, down 37 points,

MAR 19 Cotton is at 66.15, down 35 points

MAY 20 Cotton is at 67.33, down 35 points

JUL 20 Cotton is at 68.35, down 31 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