AgriCharts Market Commentary

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Cotton

Cotton futures were down 40 to 56 points in the front months on Friday. Sharp losses in the US dollar were offset by more trade news. President Trump is contemplating adding tariffs on the full $500 billion in Chinese goods the US purchases annually because of a lack of progress in negotiations, though no plan was laid out. Thursday’s Cotton on Call report showed mills increasing their unfixed call sales position for December by 562 contracts to 52,774 contracts as of 7/13. The Cotlook A index was down 25 points from the previous day at 97.95 cents/lb on July 18. The weekly USDA AWP was updated to 79.50 cents/lb, up 333 points from the week prior.

Oct 18 Cotton closed at 87.740, down 56 points,

Dec 18 Cotton closed at 87.080, down 47 points

Mar 19 Cotton closed at 86.960, down 47 points

Cotton

Cotton futures are down 80 to 96 points at the moment. Sharp losses in the US dollar are being offset by more trade news. President Trump is contemplating adding tariffs on the full $500 billion in Chinese goods the US purchases annually because of a lack of progress in negotiations, though no plan was laid out. Export commitments for all upland cotton are now 108% of the USDA export projection, with the normal pace at 106%. Accumulated exports are 93% of that projection, vs. the 5-year average of 95%. The Cotlook A index was down 25 points from the previous day at 97.95 cents/lb on July 18. The weekly USDA AWP was updated to 79.50 cents/lb, up 333 points from the week prior.

Oct 18 Cotton is at 87.5, down 80 points,

Dec 18 Cotton is at 86.66, down 89 points

Mar 19 Cotton is at 86.52, down 91 points

May 19 Cotton is at 86.600, down 96 points

Cotton

Cotton futures are trading 54 to 70 points lower this morning. They saw losses of 45 to 53 points in the nearby contracts on Thursday. With just over 2 reporting weeks left in the MY, all upland cotton export sales were just 12,935 RB. That was slightly lower than the same week in 2017 and just 10.64% of the reported total in the week prior. New crop sales totaled 247,711 RB, slipping a little from the week prior but 49.03% larger than the same time last year. Vietnam was the lead buyer of 93,400 RB, with 24,300 RB in sales shown to China. Export shipments were 227,320 RB, down 19% from last year and 11.69% lower than the previous week. The Cotlook A index was up 50 points from the previous day at 98.20 cents/lb on July 18. The weekly USDA AWP was updated to 79.50 cents/lb, up 333 points from the week prior.

Cotton

Cotton futures saw losses of 45 to 53 points in the nearby contracts on Thursday. With just over 2 reporting weeks left in the MY, all upland cotton export sales were just 12,935 RB. That was slightly lower than the same week in 2017 and just 10.64% of the reported total in the week prior. China purchased another 5,900 RB in that week. New crop sales totaled 247,711 RB, slipping a little from the week prior but 49.03% larger than the same time last year. Vietnam was the lead buyer of 93,400 RB, with 24,300 RB in sales shown to China. Exports were seen at 227,320 RB, down 19% from last year and 11.69% lower than the previous week. The Cotlook A index was up 50 points from the previous day at 98.20 cents/lb on July 18. The weekly USDA AWP was updated to 79.50 cents/lb, up 333 points from the week prior.

Oct 18 Cotton closed at 88.300, down 53 points,

Dec 18 Cotton closed at 87.550, down 53 points

Mar 19 Cotton closed at 87.430, down 50 points

Cotton

Cotton futures are trading 4 to 30 points lower on Thursday, as pressure is coming from the dollar, up 350 points at the moment. With just over 2 reporting weeks left in the MY, all upland cotton export sales were tallied at just 12,935 RB. That was slightly lower than the same week in 2017 and just 10.64% of the reported total in the week prior. China purchased another 5,900 RB in that week. New crop sales totaled 247,711 RB, slipping a little from the week prior but 49.03% larger than the same time last year. Vietnam was the lead buyer of 93,400 RB, with 24,300 RB in sales shown to China. The Cotlook A index was up 50 points from the previous day at 98.20 cents/lb on July 18. The weekly USDA AWP currently at 76.17 cents/lb will be updated later today.

Oct 18 Cotton is at 88.76, down 7 points,

Dec 18 Cotton is at 87.78, down 30 points

Mar 19 Cotton is at 87.65, down 28 points

May 19 Cotton is at 88.010, down 4 points


Market Commentary provided by:

Brugler Marketing & Management LLC
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