Cotton futures have reversed direction at midday and are up by as much as 63 points at midday. Cotton yield was down 34 to 799 lbs per acre in the Crop Production report, 7.5% lower than last year. The ending stocks estimate was reduced to 6.1 million bales from 7 million in the October WASDE report. USDA’s world cotton ending stocks figure tightened to 80.8 million bales from 83.69 million in October. December cotton options expire today, the US dollar index is stronger. Cotton exports were 129,682 RB shipped. The Cotlook A Index for 11/7 was down by 25 points, to 74.70 cents/lb. The AWP is now 56.63 cents/lb, down 70 points from the previous week.
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DEC 19 Cotton is at 64.8, up 45 points, |
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MAR 19 Cotton is at 66.67, up 63 points |
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MAY 20 Cotton is at 67.92, up 57 points |
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JUL 20 Cotton is at 69.06, up 52 points |
--provided by Brugler Marketing & Management
