Cotton #2 Futures Market News and Commentary
At the close for the midweek round of cotton trading, prices were 17 to 31 points in the black. October was the firmest on the day, with OI data showing just 336 contracts open as of 7/27.
The northern regions of AL, and MS along with mid AR are anticipated to see about an inch accumulated through the next 5 days. The remainder of cotton country is expected to remain dry according to NOAA.
USDA’s 7/28 DSQ report again showed no sales with the season’s total sitting at 1,386,957 bales provided to the cotton program. The Cotlook A index was UNCH on 7/27 at 99.30 cents/lb. The AWP for cotton is 76.58 through Thursday.
Dec 21 Cotton closed at 90.52, up 29 points,
Mar 22 Cotton closed at 90.08, up 27 points,
May 22 Cotton closed at 89.39, up 29 points