Cotton futures were mixed on Thursday, with nearby March 163 points higher on thin trade. Deferred contracts were mostly steady to 92 points lower. Cotton acreage is expected to hit 13.3 million acres in 2018 according to the USDA's Ag Outlook Forum. That is well above the 2017 number of 12.6 million acres. The average prices expected is at 63 cents/lb, down 6 cents from the previous week. The USDA Export Sales report is delayed until Friday morning because of the President’s Day holiday. The current USDA Adjusted World Price or AWP was updated to 69.69 cents/lb on Thursday, 54 points higher than the previous week. The Cotlook A index was up 185 points from the previous day on February 21 at 88.70 cents/lb.

Mar 18 Cotton closed at 80.540, up 163 points,

May 18 Cotton closed at 79.470, down 92 points

Oct 18 Cotton closed at 77.420, down 52 points

Market Commentary provided by:

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