So far cotton’s gaining triple digits into the Friday session. Thursday cotton trading had prices triple digits higher through midday, before afternoon sell pressure took that back and more. Ultimately the board settled with a 4 point gain for December and 18 to 53 point losses in the other front months. Dec futures printed a wide +4 cent range on the day.
USDA’s FAS retracted their Export Sales report. Prior to doing so, the data had shown cotton bookings of 1.909m RBs from the week that ended 8/18. USDA reported 4.7k RBs were shipped, bringing the accumulated total to 453.4k RBs. Revisions are likely.
The Cotlook A Index (old crop) was 2 cents weaker on 8/24 to 130.50 cents/lb. USDA raised the AWP for cotton another 258 points to 104.48.
Oct 22 Cotton closed at 117.18, down 39 points, currently up 214 points
Dec 22 Cotton closed at 114.11, up 4 points, currently up 274 points
Mar 23 Cotton closed at 110.83, down 18 points, currently up 251 points
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