AgriCharts Market Commentary

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Cotton Down at Midday, Pressured by a Stronger Dollar

Cotton futures are down 29 to 90 points in most contracts on Tuesday, with pressure coming from strength in the US dollar. After Monday’s closing bell, USDA showed US cotton acreage 9% planted, a 2% increase from last week. That was even with the 5 year average and slow vs. the 10% last year. China is selling nearly 1 MMT of cotton from state reserves this year, starting on May 5 and running to Sept 30. The Cotlook A Index was up 50 points at 88.25 on April 18. The weekly Average World Price (AWP) is 68.88, effective through Thursday.

May 19 Cotton closed at 76.290, down 90 points,

Jul 19 Cotton closed at 77.710, down 76 points

Oct 19 Cotton closed at 77.160, down 29 points

--provided by Brugler Marketing & Management

Cotton Lower As USD Recovers

Cotton futures are trading 66 to 87 points lower this morning. They were 17 to 22 points higher in most 2019 contracts on Monday, with nearby May down 12 points. The dollar was weaker and crude oil was up $1.82/barrel, supporting cotton via synthetics. The dollar has firmed this morning. After the closing bell, USDA showed US cotton acreage 9% planted, a 2% increase from last week. That was even with the 5 year average and slow vs. the 10% last year. The Cotlook A Index was up 50 points at 88.25 on April 18. The weekly Average World Price (AWP) is 68.88, effective through Thursday.

--provided by Brugler Marketing & Management

Cotton Mostly Higher on Monday

Cotton futures were 17 to 22 points lower in most nearby contracts, with nearby May down 12 points. The dollar was weaker today, with crude oil up $1.82/barrel, supporting cotton via synthetics. After the closing bell, USDA showed US cotton acreage at 9% planted, a 2% move from last week. That was even with the average and down from 10% last year. The Cotlook A Index was up 50 points at 88.25 on April 18. The new weekly Average World Price (AWP) is 68.88, effective through Thursday.

May 19 Cotton closed at 77.190, down 12 points,

Jul 19 Cotton closed at 78.470, up 20 points

Oct 19 Cotton closed at 77.450, up 22 points

--provided by Brugler Marketing & Management

Cotton Mostly Higher, With Help from Outside Markets

Cotton futures are trading 3 to 25 points higher in most front months, with May down 2 points. The dollar is weaker this morning, with crude oil up $1.84/barrel, supporting cotton via synthetics. The large spec funds reduced their CFTC net long position in cotton by 3,186 contracts in the week ending April 16. The funds were still net long 11,467 contracts of futures and options on that date. The Cotlook A Index was up 50 points at 88.25 on April 18. The new weekly Average World Price (AWP) is 68.88, effective through Thursday.

May 19 Cotton is at 77.29, down 2 points,

Jul 19 Cotton is at 78.52, up 25 points

Oct 19 Cotton is at 77.26, up 3 points

Dec 19 Cotton is at 77.240, up 19 points

--provided by Brugler Marketing & Management

Cotton Market Higher on Weak Dollar

Cotton futures are trading 37 to 43 points higher this morning. They closed 61 to 80 points lower on Thursday. The dollar is weaker this morning following the Easter bombing attacks on Christian churches and hotels with Western guests in Sri Lanka. The markets were closed on Friday, but CFTC was open. The large spec funds reduced their CFTC net long position in cotton by 3,186 contracts in the week ending April 16. The funds were still net long 11,467 contracts of futures and options on that date. USDA reported old crop upland cotton export sales were down 25% from the previous week at 217,600 RB, with 20,600 RB booked for 2019/20. The Cotlook A Index was up 150 points at 87.75 on April 17. The new weekly Average World Price (AWP) is 68.88, effective through Thursday. USDA ag attach reports suggest that Chinese cotton imports will rise 200,000 MT to 2.0 MMT in 2019/20. --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