Cotton
Cotton futures are 6 to 7 points lower this morning after they settled Thursday with 26 to 100 point losses. The dollar is weaker this morning after North Korea threatened to detonate a hydrogen bomb over the Pacific. All upland cotton 2017/18 export sales of 219,850 RB were reported by the USDA with an additional 37,136 RB reported for 18/19 sales. Upland cotton exports were up 61.92% wk/wk and 11.42% yr/yr at 175,725 RB.Total export commitments are now 43.5% larger than last year at this time. The USDA updated their AWP to 60.91 cents/lb, down 236 points from the previous week. 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.



Market Commentary provided by:

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