Cotton

Cotton futures are trading 35 to 37 points higher following overnight trade. They finished Tuesday with most contracts 6 to 60 cents in the red. Texas was well ahead of its average pace for cotton harvest, at 18% harvested, pulling the national average higher. Georgia ratings were down a steep 66 points on the Brugler500 scale in the week following Hurricane Irma, dropping to 307. Arkansas, Louisiana and South Carolina were the only other states to report lower conditions. The Cotlook A index for September 18 was down 20 points from the previous day at 78.9 cents/lb. China sold another 26,000 MT of cotton in Tuesday’s auction of state reserves that saw 27,100 MT offered. The Fed is expected to leave interest rates UNCH this afternoon, but to announce a policy on unwinding its long term debt portfolio.




Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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