Cotton #2 Futures PricesThu, Oct 30th, 2014
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Cotton futures are trading 19 to 46 points lower this morning. The 2 day surge in the US dollar index did some damage to demand perceptions. It is up another 500 points this morning. In its weekly report, USDA had US export sales for the week ending October 23 at 203,900 RB, including 5,100 RB of pima. China booked 22,700 RB as some mills still have 2014 quotas. Total US export commitments as a % of total projected annual exports are at 63% vs. the 5yr average of 56%. Cert stocks are now at 15,926 bales.
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