Cotton - amber-martin-9pvTSsNV2T4-unsplash
Front month cotton futures reversed higher on Tuesday, up by 117 to 166 points. That has the March contract at a net 43 point gain for the week.
USDA’s Attache sees Mexico’s cotton crop reaching 1.46m bales, compared to the official 1.4m bale estimate. Domestic use was also raised, reducing their export idea by 100k to 400k bales.
The Cotlook A Index for 11/28 was 265 points lower to 98.70 cents/lb. The AWP for the week was 317 points lower to 74.61 cents. ICE certified stocks were 8,901 bales on 11/28.
Dec 22 Cotton closed at 81.6, up 140 points,
Mar 23 Cotton closed at 80.61, up 166 points,
May 23 Cotton closed at 80.03, up 164 points
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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