AgriCharts Market Commentary

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Cotton Falls again Thursday

Cotton finished the day with losses of 34 to 45 points. The USDA updated weekly export sales for upland cotton, revealing that for the week ending 11/14 a total of 227,600 RB were sold, which was 35.04% behind last week’s multi-year high for weekly sales. That was the third largest for this MY. Another 58,200 RB were sold for 20/21. The shipments through the week ending 11/14 were 137,886 RB which raised the accumulated MY shipments to 2.748 MRB, that is 14.44% above last year’s pace and the highest through the first 16 weeks of the MY since 2008/09. China increased weekly cotton shipments by 39.94% wk/wk. With 21,954 RB shipped over the week, the MYTD accumulated China exports are 234,234 RB. The 11/20 Cotlook A Index was down another 60 points to 74.40 cents/lb. The weekly update to the AWP for cotton is back down to 56.36 cents per lb. The update lowered it by 70 points wk/wk, the previous adjustment was an increase of 1.03 cents per lb.

DEC 19 Cotton closed at 61.79, down 45 points,

MAR 19 Cotton closed at 63.94, down 34 points

MAY 20 Cotton closed at 65.1, down 38 points

JUL 20 Cotton closed at 66.12, down 41 points

--provided by Brugler Marketing & Management

Thursday Recovery for Cotton Futures

Cotton futures show a recovery, with nearby contracts as up by as much as 20 points with gains tailing off through time. The USDA updated weekly export sales for upland cotton, revealing that for the week ending 11/14 a total of 227,600 RB were sold, which was 35.04% behind last week’s multi-year high for weekly sales. That was the third largest for this MY. Another 58,200 RB were sold for 20/21. The shipments through the week ending 11/14 were 137,886 RB which raised the accumulated MY shipments to 2.748 MRB, that is 14.44% above last year’s pace and the highest through the first 16 weeks of the MY since 2008/09. The 11/20 Cotlook A Index was down another 60 points to 74.40 cents/lb. The AWP for cotton will be updated later this afternoon, the current AWP is 57.06 cents/lb.

DEC 19 Cotton is at 62.44, up 20 points,

MAR 19 Cotton is at 64.48, up 20 points

MAY 20 Cotton is at 65.61, up 13 points

JUL 20 Cotton is at 66.61, up 8 points

--provided by Brugler Marketing & Management

Cotton Market Posts One Month Low

Cotton futures show 20 to 28 point overnight losses. Futures were down 113 to 126 points on Wednesday after a midday rally fell apart. The losses pushed them to the lowest price in over a month. There were 3,520 bales sold on the online trading platform The Seam, brings the weekly sales up to 7,103 bales. That is 13.84% behind last week’s pace. The 11/19 Cotlook A Index was down 50 points to 75.00 cents/lb. The AWP for cotton will be updated later this afternoon, the current AWP is 57.06 cents/lb. The USDA weekly Export Sales report will be out at 8:30 AM EST.

--provided by Brugler Marketing & Management

Cotton Falls Sharply in Afternoon Trading

Cotton futures fell sharply since being higher by 32 to 43 points at midday. Futures finished the day with triple digit decreases which pushed them to the lowest price in over a month. 3,520 bales sold on the online trading platform The Seam, brings the weekly sales up to 7,103 bales. That is 13.84% behind last week’s pace. The 11/19 Cotlook A Index was down 50 points to 75.00 cents/lb. The AWP for cotton will be updated tomorrow afternoon, the current AWP is 57.06 cents/lb.

DEC 19 Cotton closed at 62.23, down 121 points,

MAR 19 Cotton closed at 64.22, down 113 points

MAY 20 Cotton closed at 65.42, down 120 points

JUL 20 Cotton closed at 66.41, down 126 points

--provided by Brugler Marketing & Management

Cotton Rebounding so far

Cotton futures recover 32 to 43 points at midday. The dollar index is firmer this morning, with the US stock market a touch weaker. The cotton Ginners Association reported output for The Ivory Coast to be 510,000 MT (~2.343 mil bales), up 8.97% yr/yr to a new record for the African Nation. Using WASDE numbers, that would give them a 1.892% share of world production. The 11/19 Cotlook A Index was down 50 points to 75.00 cents/lb. The AWP for cotton will be updated tomorrow afternoon, the current AWP is 57.06 cents/lb.

DEC 19 Cotton is at 63.76, up 32 points,

MAR 19 Cotton is at 65.78, up 43 points

MAY 20 Cotton is at 67.01, up 39 points

JUL 20 Cotton is at 68.06, up 39 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