Cotton Futures Higher, Softs Mixed Overall

Cotton is trading higher this morning, up 41 to 98 points across the 2022 calendar year deliveries. Cotton futures prices were 37 to 80 points weaker on Thursday after new contract highs were set on Wednesday. New crop futures also closed red on Thursday with 36 to 66 point losses going home. 

Export Sales data released yesterday showed a 15-week high for cotton bookings. The 400,985 RBs sold was also 23% above the same week last year, led by China having booked 139k RBs. USDA also reported 38,280 RBs of new crop sales, which now has a 3-yr high 1.152m RBs on the books. USDA reduced exports by 500k bales in their monthly forecast yesterday. 

The Seam reported 36,029 bales were sold on 1/12 for an average 110.73 cents. USDA’s Daily Spot Quotations report showed 37,566 bales of spot transactions in their 1/13 report. The Cotlook A index for 1/12 was another 90 points stronger at 129.55 c/lb. The AWP for cotton is 103.85 c/lb. The new AWP for cotton for the week is 105.58 cents/lb, up by 173 points. 

Mar 22 Cotton  closed at 116.84, down 80 points,

May 22 Cotton  closed at 114.47, down 51 points,

Dec 22 Cotton  closed at 95.68, down 66 points