AgriCharts Market Commentary

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.

Cotton

Cotton futures are currently posting gains of 93 to 120 points on Wednesday. The Federal Reserve is expected to increase interest rates this afternoon, with the announcement expected out at 1:00 p.m. CST. The average farm cash price range was raised 3 cents to 63-69 cents, with the mid-point up to 66 cents/lb in the WASDE report . On the world side, production in India was trimmed 0.5 MMT, and Pakistan was down 0.95 MMT. The Cotlook A index was down 75 points from the previous day to 83.45 cents/lb on December 12. Online cash sales of cotton rose to 21,066 bales on the Seam, with prices 79 points higher at 69.23 cents/lb.

Mar 18 Cotton is at 74.11, up 120 points,

May 18 Cotton is at 74.53, up 103 points

Jul 18 Cotton is at 74.8, up 93 points

Cotton

Cotton futures are currently 43 to 60 points higher. They saw 8 to 37 point losses on Tuesday, despite a supportive USDA report. The US dollar held back gains as it was up 220 points. The USDA Cotton Ginnings report shows that as of December 1, 11.335 million RB had been ginned in the US. That was nearly 10% larger than this time last year and an increase of 3.408 million RB over the mid-November report. The USDA raised the US production number slightly to 21.44 million bales, on a 2 lb increase in average yield to 902 lbs/ac. The US ending stocks number was lowered 300,000 bales, as exports were raised by that amount. The average farm cash price range was raised 3 cents to 63-69 cents, with the mid-point up to 66 cents/lb. The world ending stocks number was trimmed 2.88 million bales to 88 million bales. Production in India was trimmed 0.5 MMT, and Pakistan was down 0.95 MMT.

Cotton

Cotton futures saw 8 to 37 point losses on Tuesday, despite a supportive USDA report. The US dollar held back gains going into close at it was up 220 points. The USDA Cotton Ginnings report shows that as of December 1, 11.335 million RB had been ginned in the US. That was nearly 10% larger than this time last year and an increase of 3.408 million RB over the mid-November report. The USDA raised the US production number slightly to 21.44 million bales, on a 2 lb increase in yield to 902 lbs/ac. The US ending stocks number was lowered 0.3 million bales, as exports were raised by that amount. The world ending stocks number was trimmed 2.88 million bales to 88 million bales. Production in India was trimmed 0.5 MMT, as Pakistan was down 0.95 MMT.

Mar 18 Cotton closed at 72.910, down 9 points,

May 18 Cotton closed at 73.500, down 8 points

Oct 18 Cotton closed at 72.420, down 22 points

Cotton

Cotton futures are currently 46 to 61 points higher at midday, with support coming from the USDA supply and demand tables. The USDA Cotton Ginnings report shows that as of December 1, 11.335 million RB had been ginned in the US. That was nearly 10% larger than this time last year and an increase of 3.408 million RB over the mid-November report. The USDA raised the US production number slightly to 21.44 million bales, on a 2 lb increase in yield to 902 lbs/ac. The US ending stocks number was lowered 0.3 million bales, as exports were raised by that amount. The world ending stocks number was trimmed 2.88 million bales to 88 million bales. Online cash sales dropped to 10,842 bales reported on the Seam, with prices were down 20 points to 68.44 cents/lb. The Cotlook A index was down 50 points from the previous day on December 11 to 84.20 cents/lb.

Mar 18 Cotton is at 73.61, up 61 points,

May 18 Cotton is at 74.1, up 52 points

Jul 18 Cotton is at 74.35, up 46 points

Cotton

Cotton futures are mostly 30 to 35 points higher this morning after they were 15 to 72 points in the red on Monday. The USDA cotton classing report showed 1.555 million upland bales classed during the week ending 12/7. YTD 11.827 million upland bales have been classed. The USDA Adjusted World Price (AWP) is 65.03 cents through Thursday. One year ago it was 60.22 cents, so we are up 8% from last year at this time. Online cash sales rose to 12,519 bales reported on the Seam, as prices were down 126 points to 68.64 cents/lb. The Cotlook A index was up 150 points from the previous day on December 8 to 84.70 cents/lb.


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