Cotton

Cotton futures are 6 to 29 points higher at midday. The CFTC commitment of Traders report showed managed money lowering their net long position by 14,489 contracts during the week that ended 2/6. The position in cotton futures and options was at 81,887 contracts on that date. The USDA Adjusted World Price or AWP was updated to 69.45 cents/lb Thursday morning, which was down 195 points from the previous week. The Cotlook A index on February 9 was 87.40 cents/lb, up 70 points from the previous day. The NCC grower survey released on Saturday anticipates a 3.7% increase in US all cotton acreage in 2018.

Mar 18 Cotton is at 76.97, up 29 points,

May 18 Cotton is at 77.7, up 7 points

Jul 18 Cotton is at 78.64, up 6 points




Market Commentary provided by:

Brugler Marketing & Management LLC
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