Cotton Backs off Strong Early Gains to Close Modestly Higher

Cotton futures closed 22 to 43 points higher in front months with nearby Oct showing no trade. They failed to hold triple digit gains from earlier in the session. All upland cotton export sales during the week of September 26 were 177,837 RB for 19/20, the second largest weekly total this MY. That was up 14.56% wk/wk and well above the same week last year. There were just 7,480 RB sold for 20/21. Sales to Pakistan were 62,900 RB, with China buying 9,740 RB of 19/20. Weekly exports were reported at 154,745 RB for the week ending in 9/26, which is 12% lower from last week and down 14% from the same time last year. The total accumulation of exports this MY are 1.756 million RB, which is up 25.98% from this time last year. This Cotlook A Index remains unch at 71.70 cents/lb for October 2. The updated AWP for this week saw a slight gain to 53.36 cents/lb.

DEC 19 Cotton closed at 61.55, up 22 points

MAR 20 Cotton closed at 62.3, up 32 points

MAY 20 Cotton closed at 63.29, up 43 points

-- provided by Brugler Marketing & Management




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