Cotton #2 Mar '22 (CTH22)
Cotton #2 Futures Market News and Commentary
The cotton market went into the extended weekend with 48 to 138 point losses. December was down the most on the day, but stayed within Thursday’s range.
CFTC reported managed money funds were 5,974 contracts less net long in cotton as of 5/24 compared to last week. The long liquidation left the group 61,712 contracts net long as of the May 24 settle. Commercial cotton traders reduced their net short by 8,351 contracts as the short hedgers closed 5.1k contracts to the end users’ 3,229 additional longs. The group was 106,744 contracts net short as of 5/24, the lowest since September of 2020.
USDA’s weekly Cotton Market Review showed the 1,832 bales sold at spot this week averaged 137.47 cents/lb. The Cotlook A index was up 350 points on 5/26 to 163.20 cents. USDA’s FSA reduced the week’s adjusted world price for cotton by 3.38 cents to 139.86.
Jul 22 Cotton closed at 139.42, down 119 points,
Dec 22 Cotton closed at 122.95, down 138 points,
Mar 23 Co... Read more
- Three La Niña Years in a Row - What Has Happened in the Past?
Jim Roemer reviews the global crop implications of this once-every-20-years (usually) phenomenon
- Cotton Futures Close Red
The cotton market went into the extended weekend with 48 to 138 point losses. December was down the most on the day, but stayed within Thursday’s range....
- Arabica Rallies on Strength in the Brazilian Real and Dryness in Brazil
July arabica coffee (KCN22 ) on Friday closed up +2.85 (+1.26%), and July ICE Robusta coffee (RMN22 ) closed down -10 (-0.47%). Coffee prices Friday settled...
- Sugar Prices Gain on Strength in Crude and the Brazilian Real
July NY world sugar #11 (SBN22 ) on Friday closed up by +7 (+0.36%), and Aug London white sugar #5 (SWQ22 ) closed up by +2.40 (+0.42%). Sugar prices Friday...
- Cocoa Prices Slightly Lower as they Consolidate Recent Losses
July ICE NY cocoa (CCN22 ) on Friday closed down -2 (-0.08%), and July ICE London cocoa #7 (CAN22 ) closed down -3 (-0.17%). Cocoa prices Friday closed...
- So Far Cotton Down on Friday
Nearby cotton futures are 30 to 115 points in the red led by weakness in the December contract. Weekly FAS data showed 37,009 RBs of old crop cotton was...