Cotton futures are currently mixed, with nearby March down 1 point on thin trade. Other front months are 40-58 points higher. As of Friday’s USDA export sales report, total export commitments of upland cotton met 96% of the USDA full year projection. That is well above the average of 83% and last year’s 76%. Actual shipments are still lagging, with unshipped sales the main cause for being so far ahead of normal on commitments. The Cotlook A index was up 70 points from the previous day on February 26 at 91.80 cents/lb. The Seam showed cash sales of 11,304 bales on Tuesday, with prices averaging 70.54 cents/lb.

Mar 18 Cotton closed at 81.750, down 1 point,

May 18 Cotton closed at 82.830, up 58 points

Jul 18 Cotton closed at 83.190, up 40 points

Market Commentary provided by:

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