Cotton

Cotton futures are posting triple digit gains of 196 to 207 points in the front months on Wednesday. The Cotlook A index for October 3 was down 85 points from the previous day at 77.70 cents/lb. The Seam showed online cash sale at 3,083 bales on Tuesday, with prices averaging 66.64 cents/lb. The ICAC is estimating 2016/17 ending stocks were down 140,000 MT to 18.55 MMT, but are currently expected to increase to 18.7 MMT in the 2017/18 campaign. ICAC foresees further reductions in Chinese stocks, while world ex-China inventory expands. World mill use is expected to grow modestly in a lower price environment.

Dec 17 Cotton is at 69.59, up 207 points

Mar 18 Cotton is at 68.77, up 196 points

May 18 Cotton is at 69.540, up 200 points




Market Commentary provided by:

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