Cotton Futures Lean Higher Early Thursday

Cotton futures are starting report day with a modest bounce, up 15 to 33 points. Wednesday cotton trading pulled prices back down from the fresh new contract  highs. December closed 128 points off the high, and 16 points off the low for a 110 point drop on the day. October was also 110 points weaker during the day, maintaining it’s 42 point premium.  USDA will release weekly export sales data at 7:30 AM CDT, with Crop Production and WASDE reports out at 11 AM CDT. 

Cotton sales reported on The Seam were 463 bales for an average gross price of 95.35 cents/lb. USDA’s 8/11 DSQ report showed 463 bales sold. The Cotlook A came back down by 75 points on the 10th to 99.55 c/lb. The AWP for cotton is 75.43 cents/lb and will be updated after the close tomorrow.  

Dec 21 Cotton  closed at 91.22, down 110 points; up 27 this morning,

Mar 22 Cotton  closed at 90.66, down 113 points; up 33 this morning,

May 22 Cotton  closed at 90.05, down 105 points; up 21 this morning




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