Cotton

Cotton futures are trading 25 to 38 points lower this morning. They ended the short Friday session with gains of 50 to 149 points in the nearby contracts with help from a weak US dollar. Customs data from China shows 78,128 MT in October imports, with 17,049 MT was sourced from the US. The USDA reported 17/18 upland cotton export sales of 357,026 RB, down from the previous week but still 40.1% above this time last year. Sales for 18/19 picked up to 43,121 RB. Shipments of upland cotton were reported at a marketing year low of 85,560 RB. The Cotton Ginnings report showed that the US had ginned 7.927 million bales as of November 15. That was a move of 2.96 million bales over the previous report and 6% larger than last year for the same time. The Cotlook A index was down 75 points to 80.75 cents/lb.




Market Commentary provided by:

Brugler Marketing & Management LLC
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