Cotton #2 Futures PricesFri, May 27th, 2016
Latest Brugler Cotton #2 Report
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Cotton futures are currently trading 39 points lower after settling mostly 5 to 9 points lower on Friday. The Jul16 contract was up 261 points on the week. After being over $50/barrel on Thursday for the first time in 2016, crude oil was mostly quiet on Friday. Managed money grew their net long position to 28,169 contracts during the week ending May 24. This was a week to week increase to the CFTC reported position of 4,994 contracts. ICE reported that there were 95,362 certified bales in warehouses on May 26, with 1,160 new certs and no decertified bales. There were 4,312 bales awaiting review. The USDA AWP for the week is 51.50, up from 50.42 last week. That cut the LDP/MLG to 0.50 cents.
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