AgriCharts Market Commentary

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Cotton Lower on Chinese Tariff Talks

Cotton futures closed trading lower by 63 to 80 points lower day. China announced addition tariffs on several US ag goods this morning in retaliation to the US tariff implementation on $300 billion in Chinses goods in September and December. Of those cotton was included with 5% in tariffs added to US goods on Sept 1. President Trump responded by adding 5% of hit own to the tariffs on a total of $550 billion in Chinese goods starting on Sept 1 ($300 billion) and Oct 1 ($250 billion). Commitment of Traders data showed specs in cotton futures and options trimming 3,443 contracts from their net short potion to 41,199 contracts. Export commitments of US upland cotton are now 49% of the USDA export projection, with the average at 43% for this time. The Cotlook A Index was higher 70 points on August 22 at 71.20 cents/lb. The weekly AWP is now 52.57 cents/lb, good through next Thursday.

OCT 19 Cotton closed at 58.07, down 80 points,

DEC 19 Cotton closed at 58.18, down 76 points

MAR 20 Cotton closed at 59.07, down 79 points

MAY 20 Cotton closed at 60.13, down 63 points

--- provided by Brugler Marketing & Management

Cotton In the Red on Friday

Cotton futures are trading 25 to 83 points lower at midday. The dollar is strong, at near 1 year highs. China announced addition tariffs on several US ag goods this morning in retaliation to the US tariff implementation on $300 billion in Chinses goods in September and December. Export commitments of US upland cotton are now 49% of the USDA export projection, with the average at 43% for this time. The Cotlook A Index was higher 70 points on August 22 at 71.20 cents/lb. The weekly AWP is now 52.57 cents/lb, good through next Thursday.

OCT 19 Cotton is at 58.62, down 25 points,

DEC 19 Cotton is at 58.11, down 83 points

MAR 20 Cotton is at 59.08, down 78 points

MAY 20 Cotton is at 60.16, down 60 points

--- provided by Brugler Marketing & Management

Cotton Up 14 to 15 Points Overnight

Cotton futures are trading 14 to 15 points higher to begin Friday morning activity. The dollar is stronger. They were 63 to 107 points lower on Thursday, pressured by weak Export Sales. The weekly Export Sales report from USDA showed 19/20 bookings of 163,964 RB for the week ending 8/15. That was 51% lower than last week, with Indonesia accounting for 50,400 RB. New Crop sales were at 528 RB. Actual shipments were reported at 343,960 RB, with 81,800 RB headed to Vietnam. The Cotlook A Index was unchanged on August 21 at 70.50 cents/lb. The weekly AWP is now 52.57 cents/lb, good through next Thursday. --- provided by Brugler Marketing & Management

Cotton In the Red on Thursday

Cotton futures were 63 to 107 points lower at closing, pressured by weak Export Sales. The weekly Export Sales report from USDA showed 19/20 bookings of 163,964 RB for the week ending 8/15. That was 51% lower than last week, with Indonesia accounting for 50,400 RB. New Crop sales were at 528 RB. Actual shipments were reported at 343,960 RB, with 81,800 RB headed to Vietnam. The Cotlook A Index was unchanged on August 21 at 70.50 cents/lb. The weekly AWP was updated today to 52.57 cents/lb.

OCT 19 Cotton closed at 59.24, down 63 points,

DEC 19 Cotton closed at 58.87, down 107 points

MAR 20 Cotton closed at 59.79, down 87 points

MAY 20 Cotton closed at 60.71, down 79 points

--- provided by Brugler Marketing & Management

Cotton In the Red at Midday

Cotton futures are trading 60 to 85 points lower at midday, pressured by weak Export Sales. The weekly Export Sales report from USDA showed 19/20 bookings of 163,964 RB for the week ending 8/15. That was 51% lower than last week, with Indonesia accounting for 50,400 RB. New Crop sales were at 528 RB. The Cotlook A Index was unchanged on August 21 at 70.50 cents/lb. The weekly AWP is 52.22 cents/lb and will be updated later today.

OCT 19 Cotton is at 59.24, down 63 points,

DEC 19 Cotton is at 59.09, down 85 points

MAR 20 Cotton is at 60, down 66 points

MAY 20 Cotton is at 60.9, down 60 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