Cotton

Cotton futures posted losses of 32 to 49 points on Thursday. All upland cotton 17/18 export sales for the week of November 2 came in at 205,297 RB, which was slightly lower than last week but 21.61% larger than a year ago. Sales of 18/19 upland cotton were at 31,155 RB. The USDA reduced the 17/18 world ending stocks number for cotton by 1.5 million bales to 90.88 million bales. They also added 0.26 million bales to the 2017 US production number to 21.38 million bales. The Cotton Ginnings report showed that the US had ginned 4.964 million RB as of November 1, 1.02% fewer than last year. Of that total 2.133 million RB were reported from TX. The USDA average world price (AWP) was updated to 61.38 cents/lb, 33 points higher than the previous week. The Cotlook A index was 60 points lower on November 7 to 79.10 cents/lb.

Dec 17 Cotton closed at 68.290, down 34 points,

Mar 18 Cotton closed at 68.540, down 32 points

Jul 18 Cotton closed at 70.150, down 39 points




Market Commentary provided by:

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