AgriCharts Market Commentary

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Cotton

Cotton futures saw marginal losses on Monday, with nearby contracts 2 to 8 points lower. Crude oil was down a sharp $2.95 on the day, putting a little pressure on cotton. NASS reported that 72% of the US cotton crop was squared as of Sunday, with 31% setting bolls (ahead of the normal pace of 24%). Cotton conditions were shown at 41% gd/ex, steady on the week, as the Brugler500 was down 3 points to 310 on more very poor ratings. The Cotlook A index was up 2 cents from the previous week to 98.45 cents/lb on July 13. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior.

Oct 18 Cotton closed at 88.880, down 2 points,

Dec 18 Cotton closed at 87.770, down 7 points

Mar 19 Cotton closed at 87.540, down 8 points

Cotton

Cotton futures are currently 19 to 36 points lower at midday. Crude oil is down a sharp $2.97 at the moment, putting a little pressure on cotton at midday. The Cotlook A index was up 2 cents from the previous week to 98.45 cents/lb on July 13. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their CFTC net long position as of Tuesday to a net position of 77,274 contracts.

Oct 18 Cotton is at 88.68, down 22 points,

Dec 18 Cotton is at 87.62, down 22 points

Mar 19 Cotton is at 87.43, down 19 points

May 19 Cotton is at 87.410, down 36 points

Cotton

Cotton futures are 19 lower to 42 higher this morning, with only front month October in the red. They showed losses of 34 to 73 points in all the front months on Friday, due mostly to pre-weekend profit taking. The US dollar index is weaker in overseas trading ahead of the US open. USDA’s old crop export projection for US is now at 16.2 million bales, with new crop dropping 500,000 bales to 15 million. Thursday’s WASDE showed a jump in the average cash price for 18/19 to a range of 68-82 cents/lb. CFTC’s Cotton on Call report showed December’s unfixed call sales position at 52,212 contracts on July 6, down 1,574 from the week prior. Safras & Mercado estimates that Brazil’s cotton planted acreage will rise by 10.8% in 18/19. The Cotlook A index was down 2 cents to 94.45 cents/lb on July 12. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their net long position as of Tuesday to a net position of 77,274 contracts.

Cotton

Cotton futures showed losses of 34 to 73 points in the front months on Friday, on pre-weekend profit taking. USDA’s old crop export projection for US is now at 16.2 million bales, with new crop dropping 500,000 bales to 15 million. Thursday’s WASDE showed a jump in the average cash price for 18/19 to a range of 68-82 cents/lb. CFTC’s Cotton on Call report showed December’s unfixed call sales position at 52,212 contracts on July 6, down 1,574 from the week prior. Safras & Mercado estimates that Brazil’s cotton planted acreage will rise by 10.8% in 18/19. The Cotlook A index was down 2 cents to 94.45 cents/lb on July 12. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their net long position as of Tuesday to a net position of 77,274 contracts.

Oct 18 Cotton closed at 88.900, down 34 points,

Dec 18 Cotton closed at 87.840, down 70 points

Mar 19 Cotton closed at 87.620, down 73 points

Cotton

Cotton futures showed losses of 34 to 73 points in the front months on Friday, on pre-weekend profit taking. USDA’s old crop export projection for US is now at 16.2 million bales, with new crop dropping 500,000 bales to 15 million. Thursday’s WASDE showed a jump in the average cash price for 18/19 to a range of 68-82 cents/lb. CFTC’s Cotton on Call report showed December’s unfixed call sales position at 52,212 contracts on July 6, down 1,574 from the week prior. Safras & Mercado estimates that Brazil’s cotton planted acreage will rise by 10.8% in 18/19. The Cotlook A index was down 2 cents to 94.45 cents/lb on July 12. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their net long position as of Tuesday to a net position of 77,274 contracts.

Oct 18 Cotton closed at 88.900, down 34 points,

Dec 18 Cotton closed at 87.840, down 70 points

Mar 19 Cotton closed at 87.620, down 73 points


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
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