Cotton Lower on Improved Crop Ratings

Cotton futures are trading 45 to 110 points lower this morning. They had losses of 18 to 58 points in most contracts Monday. Monday afternoon’s Crop Progress report showed the US cotton crop 86% squared by Sunday (87% avg), with 45% setting bolls (48% avg). Crop ratings were 51% gd/ex, up 1% from last week, as the Brugler500 was up 6 points to 364. According to Chinese media reports, Chinese companies have made inquiries on US goods, including cotton, and will make purchases if prices remain reasonable. The Cotlook A index for July 26 was unch from the previous day at 75.40 cents/lb. The weekly AWP is 56.07 cents/lb, through Thursday.

--provided by Brugler Marketing & Management

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