Cotton Sharply Lower On Profit Taking

Cotton futures are posting triple digit losses in most contracts on Monday on profit taking . Spec funds in cotton futures and options added 5,945 contracts to their CFTC net long position at 14,652 contracts as of 4/9. USDA will release their weekly Crop Progress report as of 4/14 this afternoon, with updated cotton planting progress. The Cotlook A Index was down 50 points at 86.70 on April 12. The weekly AWP was updated to 69.21, 99 points higher than the previous week.

May 19 Cotton is at 76.56, down 155 points,

Jul 19 Cotton is at 77.03, down 183 points

Oct 19 Cotton is at 75.8, down 288 points

Dec 19 Cotton is at 75.900, down 129 points

--provided by Brugler Marketing & Management

Market Commentary provided by:

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