AgriCharts Market Commentary

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Cotton

Cotton futures are currently 5 to 36 points higher in the nearby contracts, with back months lower. Cotton condition ratings increased to 63% gd/ex in this week’s USDA Crop Progress report, and the Brugler500 index is now at 362, up 4 points. Conditions in TX were up 7 points, with TN improving 21 points on the week. The US cotton crop has 12% of the bolls opening, vs. last year’s 15%. The USDA cotton AWP for this week is 59.70, down from 62.46 cents/lb in the week just ended. The Cotlook A index for August 21 was 25 points higher than the previous day at 77.65 cents/lb. On Tuesday, China sold 28,900 MT of cotton at an auction of state reserves, as 29,700 MT was offered.

Oct 17 Cotton is at 69.07, up 36 points,

Dec 17 Cotton is at 67.71, up 15 points

Mar 18 Cotton is at 67.35, up 5 points

May 18 Cotton is at 67.840, down 6 points

Cotton

Cotton futures are trading 5 to 22 points higher after they were 5 to 92 points higher in most contracts on Monday. Cotton condition ratings increased to 63% gd/ex in this week’s USDA Crop Progress report, and the Brugler500 index is now at 362, up 4 points. The US cotton crop has 12% of the bolls opening, vs. last year’s 15%. The USDA cotton AWP for this week is 59.70, down from 62.46 cents/lb in the week just ended. The Cotlook A index for August 1 was unchanged from the previous day at 77.40 cents/lb. On Monday, China sold 28,000 MT of cotton at an auction of state reserves, as 29,600 MT was offered.

Cotton

Cotton futures were 5 to 92 points higher in most contracts on Monday, as the US dollar was down 366 points. Cotton condition ratings increased to 63% g/e in this week’s USDA Crop Progress report, and the Brugler500 is now at 362, up 4 points. The US cotton crop now has 12% of the bolls opening, vs. last year’s 15%. The USDA cotton AWP for this week is 59.70, down from 62.46 cents/lb in the week just ended. The Cotlook A index for August 1 was unchanged from the previous day at 77.40 cents/lb. On Monday, China sold 28,000 MT of cotton at an auction of state reserves, as 29,600 MT was offered.

Oct 17 Cotton closed at 68.710, up 92 points,

Dec 17 Cotton closed at 67.560, up 28 points

May 18 Cotton closed at 67.900, up 19 points

Cotton

Cotton futures are trading 4 to 21 points higher at midday. The US dollar is 331 points lower at the moment. The USDA cotton AWP for this week is 59.70, down from 62.46 cents/lb in the week just ended. The Cotlook A index for August 1 was unchanged from the previous day at 77.40 cents/lb. Friday afternoon’s CFTC report indicated spec traders trimming their net long position in cotton futures and options trading by 4,390 contracts to +29,596 contracts as of Tuesday. On Monday, China sold 28,000 MT of cotton at an auction of state reserves, as 29,600 MT was offered. Last week, they sold 70.77% of the 148,237 MT offered.

Oct 17 Cotton is at 68, up 21 points,

Dec 17 Cotton is at 67.45, up 17 points

Mar 18 Cotton is at 67.14, up 8 points

May 18 Cotton is at 67.750, up 4 points

Cotton

Cotton futures are 25 points lower to 8 points higher this morning. They settled mostly 19 to 50 points higher on Friday. The US dollar was slightly supportive, as it was down 202 points. The USDA cotton AWP for this week is 59.70, down from 62.46 cents/lb in the week just ended. The Cotlook A index for August 17 was down 30 points at 77.40 cents/lb. Friday afternoon’s CFTC report indicated spec traders trimming their net long position in cotton futures and options trading by 4,390 contracts to +29,596 contracts as of Tuesday. China sold 23,400 MT of the 29,476 MT of cotton offered at Friday’s auction of state reserves. On the week, they sold 70.77% of the 148,237 MT offered.


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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