AgriCharts Market Commentary

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Cotton

Cotton futures finished the Monday session with most contracts 55 to 109 points lower. The was a little pressure from a slightly higher US dollar, up 176. The USDA showed 82% of the cotton crop with bolls open. They show 31% harvested vs. the average of 26%. National ratings moved around, as gd/ex was 2% lower at 58% gd/ex. The Brugler500 was left UNCH at 355, as very poor ratings also improved to poor and fair. The Adjusted World Price (AWP) was updated to 60.44 cents/lb, down 11 points from the previous week. The Cotlook A index for the 13th of October was 100 points lower at 77.70 cents/lb. The Seam reported online cash sales of 888 bales at an average price of 66.49 cents/lb.

Dec 17 Cotton closed at 67.530, down 109 points,

Mar 18 Cotton closed at 67.320, down 84 points

Jul 18 Cotton closed at 68.770, down 82 points

Cotton

Cotton futures are 67 to 101 points lower in the front months on Monday. The lead for upland cotton export commitments is slowly declining, as they are now 40.2% larger than last year. They are still 56% of the USDA full year projection, compared to the average of 44% for early October. The Adjusted World Price (AWP) was updated to 60.44 cents/lb, down 11 points from the previous week. The Cotlook A index for the 13th of October was 100 points lower at 77.70 cents/lb. The Seam reported online cash sales of 888 bales at an average price of 66.49 cents/lb.

Dec 17 Cotton is at 67.61, down 101 points,

Mar 18 Cotton is at 67.37, down 79 points

May 18 Cotton is at 68.25, down 72 points

Jul 18 Cotton is at 68.920, down 67 points

Cotton

Cotton futures are 30 to 40 points lower in the front three contracts this morning after they were 78 to 91 points higher on Friday. The July 2018 and later futures months are currently trading higher. All upland cotton shipments for the week of 10/5 totaled 118,009 RB, slightly ahead of the previous year. The lead for upland cotton export commitments is slowly declining, as they are now 40.2% larger than last year. They are still 56% of the USDA full year projection, compared to the average of 44% for early October. Thursday’s Crop Production report showed a 300,000 bale drop in production in both Texas and Georgia, to 9 and 2.4 million bales respectively. The state average yield for GA was trimmed 113 lbs/ac to 900 lbs/ac. The Adjusted World Price (AWP) was updated to 60.44 cents/lb, down 11 points from the previous week.

Cotton

Cotton futures were 78 to 91 points higher on Friday. This morning’s USDA export sales report indicated all upland cotton sales of 154,400 RB for 17/18, down 4.1%from a week ago. An additional 22,000 RB of pima sales were also booked. Upland sales for 18/19 crop came in at 9,300 RB. All upland cotton shipments for the week of 10/5 were at 118,009 RB, slightly ahead of the previous year. Thursday’s Crop Production report showed a 300,000 bale drop in production in both Texas and Georgia, to 9 and 2.4 million bales respectively. The state average yield for GA was trimmed 113 lbs/ac to 900 lbs/ac, with other East Coast states besides Florida seeing a reduction. The Adjusted World Price (AWP) was updated to 60.44 cents/lb, down 11 points from the previous week.

Dec 17 Cotton closed at 68.620, up 78 points,

Mar 18 Cotton closed at 68.160, up 79 points

Jul 18 Cotton closed at 69.590, up 91 points

Cotton

Cotton futures are 85 to 95 points higher this morning after they lost 78 to 93 points on Thursday. A weaker US dollar is aiding the rally, along with short covering ahead of the weekend. The USDA cut the US cotton yield 19 pounds to 889 pounds per acre yesterday, due mostly to the hurricanes. That lowered US production 0.64 million bales to 21.12 million bales. World ending stocks were lowered just 0.16 to 92.38 million bales. The Cotlook A index for October 12 was down .10 at 78.70 cents/lb. All upland cotton prevent plant acres were reported at 115,472 acres in the October report, insignificantly larger than last year. This morning’s USDA export sales report indicated all upland cotton sales of 154,400 RB for 17/18, down 4.1%from a week ago. An additional 22,000 RB of pima sales were also booked. Upland sales for 18/19 crop came in at 9,300 RB.

ICE COT 2 DEC7/d is at 68.47, up 63 points,

ICE COT 2 MAR8/d is at 67.97, up 60 points


Market Commentary provided by:

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