AgriCharts Market Commentary

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Cotton Showing Gains on Monday

Cotton futures are steady to 133 points higher in most contracts on Monday. The US and China are expected to meet at this week’s G-20 gathering, with trade talks taking place prior to the Trump/XI meeting. Friday’s Commitment of Traders report showed spec traders adding 144 contracts to their net short position of 30,385 contracts as of last Tuesday. The Cotlook A index for June 20 was down 105 points from the previous day to 76.85 cents/lb. The weekly Average World Price (AWP) from USDA is now 59.14 cents/lb through Thursday, up 17 points from the previous week.

Jul 19 Cotton is at 62.52, up 133 points,

Oct 19 Cotton is at 65.36, up 63 points

Dec 19 Cotton is at 65.72, up 16 points

Mar 20 Cotton is at 66.420, up 3 points

--provided by Brugler Marketing & Management

Cotton Market Rebounds Overnight

Cotton futures are trading up to 160 higher in the July contract this morning, while the other months are 15 to 65 higher. July fell another 202 points Friday, dropping 7.2% for the week. Other contracts were 37 to 77 points lower on Friday. Friday’s Commitment of Traders report showed spec traders adding 144 contracts to their net short position of 30,385 contracts as of Tuesday. Total upland cotton export commitments are now 110% of USDA’s projection, compared to the 104% average, as shipments are behind normal pace (87%) at 80%. The Cotlook A index for June 20 was up 40 points from the previous day to 77.90 cents/lb. The weekly Average World Price (AWP) from USDA is now 59.14 cents/lb through Thursday, up 17 points from the previous week.

--provided by Brugler Marketing & Management

Cotton Down 7.2% This Week

Cotton futures fell another 202 points in July on Friday, closing down 7.2% on the week. Other contracts were 37 to 77 points lower. Friday’s Commitment of Traders report showed spec traders adding 144 contracts to their net short position of 30,385 contracts as of Tuesday. Total upland cotton export commitments are now 110% of USDA’s projection, compared to the 104% average, as shipments are behind normal pace (87%) at 80%. The Cotlook A index for June 20 was up 40 points from the previous day to 77.90 cents/lb. The weekly Average World Price (AWP) from USDA is now 59.14 cents/lb through next Thursday, up 17 points from the previous week.

Jul 19 Cotton closed at 61.190, down 202 points,

Oct 19 Cotton closed at 64.730, down 77 points

Dec 19 Cotton closed at 65.560, down 40 points

--provided by Brugler Marketing & Management

Cotton Lower Again on Friday

Cotton futures are showing another day of triple digit losses in the front month, posting the lowest price since May 2016. Other nearby contacts are 27 to 67 points lower. Total upland cotton export commitments are now 110% of USDA’s projection, compared to the 104% average, as shipments are behind normal pace (87%) at 80%. The Cotlook A index for June 20 was up 40 points from the previous day to 77.90 cents/lb. The weekly Average World Price (AWP) from USDA is now 59.14 cents/lb through next Thursday, up 17 points from the previous week.

Jul 19 Cotton is at 61.7, down 151 points,

Oct 19 Cotton is at 64.83, down 67 points

Dec 19 Cotton is at 65.62, down 34 points

Mar 20 Cotton is at 66.450, down 31 points

--provided by Brugler Marketing & Management

Cotton Marginally Mixed on Friday Morning

Cotton futures are trading 10 points lower to 37 points higher in the front months this morning. They posted losses of 73 to 217 points in the front months on Thursday. July hit the lowest price since June 2016 on the front month continuation chart on Thursday. The weekly Export Sales report showed old crop upland bookings at a net reduction of 119,275 RB in the week of June 13. New crop sales totaled 221,829 RB, the second highest this MY. Upland cotton shipments totaled 321,241 RB in that week, with 36,000 RB to China and 59,200 RB to India. Total upland commitments are now 110% of USDA’s export projection, compared to the 104% average, as exports are behind normal pace (87%) at 80%. The Cotlook A index for June 19 was up 50 points from the previous day to 77.50 cents/lb. The weekly Average World Price (AWP) from USDA is now 59.14 cents/lb through next Thursday, up 17 points from the previous week.

--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