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

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