AgriCharts Market Commentary

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Cotton Market Down 2 to 45 Points Overnight

Cotton futures are trading 2 to 45 points lower this morning. They closed 3 to 24 points higher on Friday, with deferred contracts lower. Dec cotton was down 2.75% on the week. The US dollar index is higher. Commitment of Traders data shows spec funds backing off their net short position in cotton futures and options by 9,674 contracts to -24,890 contracts on Tuesday. Export commitments of shipped and unshipped upland cotton sales are now 55% of USDA’s projected 19/20 total. That is above the 54% average pace but down from 68% for the same time last year. Thursday’s Cotton On-Call report showed mills with unfixed call sales of 23,888 contracts as of 9/13, with unfixed call purchases at 38,610 MT. The Cotlook A Index was down 90 points on September 19 at 71.50 cents/lb. The weekly AWP is 54.62, effective through Thursday.

-- provided by Brugler Marketing & Management

Cotton Close Marginally Mixed on Friday

Cotton futures closed 3 to 24 points higher on Friday, with deferred contracts lower. Dec was down 2.75% on the week. Commitment of Traders data shows spec funds backing off their net short position in cotton futures and options by 9,674 contracts to -24,890 contracts on Tuesday. Export commitments of shipped and unshipped upland cotton sales are now 55% of USDA’s projected 19/20 total. That is above the 54% average pace but down from 68% for the same time last year. Thursday’s Cotton On-Call report showed mills with unfixed call sales of 23,888 contracts as of 9/13, with unfixed call purchases at 38,610 MT. The Cotlook A Index was down 90 points on September 19 at 71.50 cents/lb. The weekly AWP is 54.62, effective through next Thursday. That is up 2.34 cents from the previous week.

OCT 19 Cotton closed at 59.02, up 3 points,

DEC 19 Cotton closed at 60.57, up 24 points

MAR 20 Cotton closed at 61.17, up 11 points

MAY 20 Cotton closed at 62.03, down 5 points

-- provided by Brugler Marketing & Management

Cotton Marginally Mixed on Friday

Cotton futures are 3 to 8 points higher in the front months, with deferred contracts slightly lower. Export commitments of shipped and unshipped upland cotton sales are now 55% of USDA’s projected 19/20 total. That is above the 54% average pace but down from 68% for the same time last year. Thursday’s Cotton On-Call report showed mills with unfixed call sales of 23,888 contracts as of 9/13, with unfixed call purchases at 38,610 MT. The Cotlook A Index was down 90 points on September 19 at 71.50 cents/lb. The weekly AWP is 54.62, effective through next Thursday. That is up 2.34 cents from the previous week.

OCT 19 Cotton is at 59.02, up 3 points,

DEC 19 Cotton is at 60.4, up 7 points

MAR 20 Cotton is at 61.14, up 8 points

MAY 20 Cotton is at 61.96, down 12 points

-- provided by Brugler Marketing & Management

Cotton Market Bounce 33 to 49 Points

Cotton futures are trading 33 to 49 points higher to begin your Friday. They were down 14 points in several nearby contracts on Thursday, with nearby Oct up 2 points. USDA reported cotton export sales for the week ending September 12 totaled 84,999 running bales for upland, with another 19,300 RB booked for 2020/21. China cancelled another 39,317 RB of old crop purchases. Shipments totaled 166,602 RB in that week, slightly below the previous week. A total of 11,862 MT of cotton was sold from Chinese state reserves on Thursday, totaling 99.08% of the amount offered. The Cotlook A Index was down 130 points on September 18 at 72.40 cents/lb. The weekly AWP is 54.62, effective through next Thursday. That is up 2.34 cents from the previous week.

-- provided by Brugler Marketing & Management

Cotton Modestly Lower on Thursday

Cotton futures were down 14 points in several nearby contracts on Thursday, with nearby Oct up 2 points. USDA reported cotton export sales for the week ending September 12 totaled 84,999 running bales for upland, with another 19,300 RB booked for 2020/21. China cancelled another 39,317 RB of old crop purchases. Shipments totaled 166,602 RB in that week, slightly below the previous week. A total of 11,862 MT of cotton was sold from Chinese state reserves on Thursday, totaling 99.08% of the amount offered. The Cotlook A Index was down 130 points on September 18 at 72.40 cents/lb. The weekly AWP is 54.62, effective through next Thursday. That is up 2.34 cents from the previous week.

OCT 19 Cotton closed at 59.38, up 2 points,

DEC 19 Cotton closed at 60.36, down 14 points

MAR 20 Cotton closed at 61.08, down 14 points

MAY 20 Cotton closed at 62.11, down 14 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