Cotton

Cotton futures are posting triple digit gains in most contracts at midday. This morning’s USDA Export Sales report indicated that just 50,664 RB of old crop upland cotton were sold for export in the week of May 17. That was a MY low, but still more than 3 times larger than the same week last year. New crop sales were reported at 152,178 RB. China sold another 30,000 MT of cotton offered at an auction of state reserves on Thursday. This could be helpful for the US export market, as they look to bring in bales of higher quality cotton to blend with their lower quality. The Cotlook A index was down 100 points from the previous day to 94.90 cents/lb on May 23. The current AWP of 74.09 cents/lb will be updated later today.

Jul 18 Cotton is at 87.37, up 41 points,

Oct 18 Cotton is at 86.45, up 124 points

Dec 18 Cotton is at 85.4, up 135 points

Mar 19 Cotton is at 84.960, up 133 points




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