AgriCharts Market Commentary

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Cotton Market 26 to 32 Points Higher Overnight

Cotton futures are 26 to 32 points higher this morning, joining a wave of ag commodity buying overnight. They were down by 27 to 72 points at the close on Monday. The dollar and stock market are both hovering near UNCH. Cotton harvest was up 8% over last week to 40% complete per the USDA’s weekly crop progress report. That is 5% above average, with Texas 3 percentage points ahead of their average pace. Conditions in the report were 41% good/ex, up 3%, with the Brugler500 unch at 321. The Cotlook A Index was 45 points higher on Oct 18, to 75.45 cents/lb. The AWP is 55.26, effective through Thursday.

-- provided by Brugler Marketing & Management

Cotton Lower after Weekend

Cotton futures were down by 27 to 72 points at the close on Monday. Cotton harvest was up 8% over last week to 40% complete per the USDA’s crop progress report. That is 5% above average, with Texas 3 percentage points ahead of their average pace. Conditions in the report indicated 41% gd/ex, up 3%, with the Brugler500 unch at 321. The Cotlook A Index was 45 points higher on Oct 18, to 75.45 cents/lb. The updated Adjusted World Price of cotton is now 55.26, up 1.36 from last Thursday’s AWP. Keerti Rathore, from Texas A&M, has genetically removed gossypol from cotton seeds, effectively rendering them harmless, and the FDA has approved his strain of seeds for consumption. Cotton seeds have 49.5 grams of protein/100 grams, and Mr. Rathore hopes they could be a suitable source of protein for feeds or developing nations that face malnutrition.

DEC 19 Cotton closed at 64.44, down 72 points,

MAR 19 Cotton closed at 65.23, down 58 points

MAY 20 Cotton closed at 65.98, down 37 points

JUL 20 Cotton closed at 66.49, down 27 points

-- provided by Brugler Marketing & Management

Cotton Lower after Weekend

Cotton futures are down by 25 to 48 points at midday. The CFTC reported another reduction in managed money’s net short position, which as of Tuesday was 11,377 contracts. Crop Progress data will be released this afternoon showing harvest progress as of Sunday. The Cotlook A Index was 45 points higher on Oct 18, to 75.45 cents/lb. The updated Adjusted World Price of cotton is now 55.26, up 1.36 from last Thursday’s AWP. Keerti Rathore, from Texas A&M, has successfully removed gossypol from cotton seeds, effectively rendering them harmless, and the FDA has approved her strain of seeds for consumption. Cotton seeds have 49.5 grams of protein/100 grams, and Rathore hopes they could be a suitable source of protein for feeds or developing nations that face malnutrition.

DEC 19 Cotton is at 64.68, down 48 points,

MAR 19 Cotton is at 65.44, down 37 points

MAY 20 Cotton is at 66.04, down 31 points

JUL 20 Cotton is at 66.51, down 25 points

-- provided by Brugler Marketing & Management

Cotton Market Up as Much as 20 Points

Cotton futures are 4 to 20 points higher this morning. They gained 129 points (2.02%) last week. The US dollar indices are a little weaker, with the UK Parliament failing to approve the Brexit deal over the weekend but the buck higher against the JY. The CFTC reported another reduction in managed money’s net short position, which as of Tuesday was 11,377 contracts. Cotton weekly export sales were up 9.33% compared to last week and were the highest since February, at 206,468 running bales. The cumulative sales for the market year are now at 9.135 million RB, only 0.22% below last year’s pace. The Cotlook A Index bounced up another 100 points on Oct to 75.00 cents/lb. The updated Adjusted World Price of cotton is now 55.26, up 1.36 from last Thursday’s AWP.

-- provided by Brugler Marketing & Management

Cotton Gains on the Week

Dec cotton futures gained 2.02% for a 129 point increases wk/wk, futures closed Friday up 18 to 53 points in nearbys. The CFTC reported this afternoon that cotton saw another reduction in managed money’s net short position, which as of Tuesday was 11,377 contracts. Cotton weekly export sales are up 9.33% compared to last week and were the highest since February, at 206,468 running bales. The cumulative sales for the market year are now at 9.135 million RB, only 0.22% below last year’s pace. The Cotlook A Index bounced up another 100 points on Oct to 75.00 cents/lb. The updated Adjusted World Price of cotton is now 55.26, up 1.36 from last Thursday’s AWP. Ted McKinney announced from Hanoi today via teleconference with reporters that at least $5 million in ag sales have been made, with official totals coming out Monday. Vietnam imports 54% of their approximate 7.3 Million bales in annual needs from the United States, totaling over $1 billion.

DEC 19 Cotton closed at 65.17, up 18 points,

MAR 19 Cotton closed at 65.8, up 29 points

MAY 20 Cotton closed at 66.3, up 41 points

JUL 20 Cotton closed at 66.66, up 53 points

-- provided by Brugler Marketing & Management


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
Web: http://bruglermarketing.com