Cotton

Cotton futures are mostly 68 to 99 points lower on Thursday, with nearby Oct showing no volume. The Fed left interest rates UNCH yesterday, but suggested that there could be another rate rise before the end of the year. They also will begin unwinding the long term debt portfolio in October. All upland cotton 17/18 export sales of 219,850 RB were reported by the USDA this morning, with an additional 37,136 RB reported for 18/19 sales. Sales for 17/18 were well above last week and 11.08% larger than this week last year.The Cotlook A index for September 20 was down 35 points from the previous day at 79.35 cents/lb. China sold another 29,500 MT of cotton in Thursday’s auction of state reserves that saw 30,000 MT offered.

Dec 17 Cotton is at 68.26, down 99 points

Mar 18 Cotton is at 67.71, down 80 points

May 18 Cotton is at 68.350, down 68 points




Market Commentary provided by:

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