AgriCharts Market Commentary

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Cotton

Cotton futures saw 8 to 37 point losses on Tuesday, despite a supportive USDA report. The US dollar held back gains going into close at it was up 220 points. The USDA Cotton Ginnings report shows that as of December 1, 11.335 million RB had been ginned in the US. That was nearly 10% larger than this time last year and an increase of 3.408 million RB over the mid-November report. The USDA raised the US production number slightly to 21.44 million bales, on a 2 lb increase in yield to 902 lbs/ac. The US ending stocks number was lowered 0.3 million bales, as exports were raised by that amount. The world ending stocks number was trimmed 2.88 million bales to 88 million bales. Production in India was trimmed 0.5 MMT, as Pakistan was down 0.95 MMT.

Mar 18 Cotton closed at 72.910, down 9 points,

May 18 Cotton closed at 73.500, down 8 points

Oct 18 Cotton closed at 72.420, down 22 points

Cotton

Cotton futures are currently 46 to 61 points higher at midday, with support coming from the USDA supply and demand tables. The USDA Cotton Ginnings report shows that as of December 1, 11.335 million RB had been ginned in the US. That was nearly 10% larger than this time last year and an increase of 3.408 million RB over the mid-November report. The USDA raised the US production number slightly to 21.44 million bales, on a 2 lb increase in yield to 902 lbs/ac. The US ending stocks number was lowered 0.3 million bales, as exports were raised by that amount. The world ending stocks number was trimmed 2.88 million bales to 88 million bales. Online cash sales dropped to 10,842 bales reported on the Seam, with prices were down 20 points to 68.44 cents/lb. The Cotlook A index was down 50 points from the previous day on December 11 to 84.20 cents/lb.

Mar 18 Cotton is at 73.61, up 61 points,

May 18 Cotton is at 74.1, up 52 points

Jul 18 Cotton is at 74.35, up 46 points

Cotton

Cotton futures are mostly 30 to 35 points higher this morning after they were 15 to 72 points in the red on Monday. The USDA cotton classing report showed 1.555 million upland bales classed during the week ending 12/7. YTD 11.827 million upland bales have been classed. The USDA Adjusted World Price (AWP) is 65.03 cents through Thursday. One year ago it was 60.22 cents, so we are up 8% from last year at this time. Online cash sales rose to 12,519 bales reported on the Seam, as prices were down 126 points to 68.64 cents/lb. The Cotlook A index was up 150 points from the previous day on December 8 to 84.70 cents/lb.

Cotton

Cotton futures were 15 to 72 points in the red ahead of Tuesday’s USDA supply and demand report. The USDA cotton classing report showed 1.555 million upland bales classed during the week ending 12/7. YTD 11.827 million upland bales have been classed. The USDA Adjusted World Price (AWP) was updated to 65.03 cents/lb on Thursday, up 81 points from the previous week. Online cash sales rose to 12,519 bales reported on the Seam, as prices were down 126 points to 68.64 cents/lb. The Cotlook A index was up 150 points from the previous day on December 8 to 84.70 cents/lb.

Mar 18 Cotton closed at 73.000, down 72 points,

May 18 Cotton closed at 73.580, down 62 points

Oct 18 Cotton closed at 72.640, down 38 points

Cotton

Cotton futures are 51 to 55 points lower to start the week. Managed money spec traders climbed back to their largest net long position since mid May at 82,409 contracts. That was an increase of 11,681 contracts over the week that ended 12/5. The USDA Adjusted World Price (AWP) was updated to 65.03 cents/lb, up 81 points from the previous week. Online cash sales rose to 12,519 bales reported on the Seam, as prices were down 126 points to 68.64 cents/lb. The Cotlook A index was up 150 points from the previous day on December 8 to 84.70 cents/lb.

Mar 18 Cotton is at 73.17, down 55 points,

May 18 Cotton is at 73.69, down 51 points

Jul 18 Cotton is at 73.84, down 55 points


Market Commentary provided by:

Brugler Marketing & Management LLC
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