Cotton Trading Higher on Thursday

Thursday cotton trading has front month futures 82 to 114 points in the black so far. Dec is up the most at midday with a 114 point gain to near 63.34 cents/lb. For the first week of the MY, cotton export sales were 6,891 RBs, with 2.883m RBs unshipped from 2019/20. 2020/21 commitments are at 6.289M RBs to start the MY. Cotton exports on the week were 322,167 RBs, down 24,592 RBs wk/wk. Suggesting an abandonment rate of 24%, USDA set harvested acres at just 9.25 million. Those acres are, however, estimated to bring a record 938 lbs/acre for 18.08m bales. The Cotlook A index for Aug 12 was up another 50 points to 69.5 cents/lb. The AWP for cotton is 49.44 cents/lb and LDP is 2.56 cents/lb, with fresh numbers after the close.

Oct 20 Cotton is at 62.66, up 82 points,

Dec 20 Cotton is at 63.34, up 114 points

Mar 21 Cotton is at 64.21, up 107 points

May 21 Cotton is at 64.94, up 105 points

--- provided by Brugler Marketing & Management




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