Front month cotton futures are trading with midday gains of 49 to 107 points so far. New crop futures are also in the black so far for Thursday, gaining as much as 54 points.
USDA’s FAS reported cotton bookings from the week that ended 1/27 at 332,098 RBs. New crop bookings were also 315,120 RBs, which was the largest combined sale (not counting MY rolls) since June of 2012. China was the largest buyer for old crop on the week, and Bangladesh was the largest new crop buyer from the week. Weekly shipments were a 35-week high 302,135 RBs, bringing the MY total to 3.9m RBs. That is 42% behind last season’s shipping pace, though commitments are only down 6% yr/yr at 11.99m RBs.
Online cotton sales on The Seam totaled 16,8332 bales for 2/1, with an average gross price of 117.09 cents/lb. reported 37,418 bales were sold on 1/31 for an average 117.22 cents/lb. USDA’s Daily Spot Quotations report had 17,940 bales of upland cotton sold at spot in the 2/2 release. The Cotlook A index was 141.1 cents/lb on 2/2, firm with yesterday. The AWP for cotton is 112.43 cents/lb, and will be updated after the close.
Mar 22 Cotton is at 126.9, up 57 points,
May 22 Cotton is at 124.1, up 107 points,
Dec 22 Cotton is at 103.4, up 45 points
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