Cotton Market Commentary

Cotton futures are trading 5 lower to 8 higher this morning ahead of the USDA reports. They finished Turnaround Tuesday with most contracts 68 to 90 points in the red. The weekly Crop Progress report showed 39% of the cotton crop had bolls open vs. the 35% average. The crop was also 10% harvested, doubling up the normal pace. The condition ratings showed another 3% drop in the good/ex categories to 38%, with the Brugler500 Index down the same amount at 300 points. Texas ratings were steady, with GA down 5 points. The Cotlook A index was back up 70 points from the previous day at 91.70 cents/lb on September 10. The USDA weekly AWP was updated to 73.77 cents/lb, down 49 points from the previous week.

Market Commentary provided by:

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