AgriCharts Market Commentary

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Cotton Market Commentary

Cotton futures are steady to 10 points higher in the nearby contracts at midday. Friday’s Commitment of Traders report showed that spec traders in Cotton futures and options held their smallest reported net long position since last November as of last Tuesday at 47,539 contracts. Parts of TX received subfreezing temps overnight, with USDA showing 70% of the bolls open as of 10/7, with updated numbers out this afternoon. The Cotlook A index was UNCH from the previous day at 86.15 cents/lb on October 12. The USDA weekly AWP is 67.73 cents/lb, and effective through this Thursday. China set their 2019 Tariff Rate Quota at the base WTO requirement 894,000 MT (~4.1 million bales)

Dec 18 Cotton is at 78.46, up 9 points,

Mar 19 Cotton is at 79.65, up 10 points

May 19 Cotton is at 80.45, up 4 points

Jul 19 Cotton is at 80.970, down 2 points

--provided by Brugler Marketing & Management (402) 289-2330

Cotton Market Commentary

Cotton futures are trading 34 to 48 points higher as the trade tries to price in crop losses from Hurricane Michael. They posted triple digit gains on Friday. The USDA Export Sales report listed 97,997 RB in 18/19 upland cotton sales during the week of 10/4. That was well above the week prior but down 36.54% from the same time last year. Vietnam purchased 70,000 RB, with 73,967 RB reported as a net reduction for China. Sales for 19/20 were tallied at 142,912 RB, with 136,400 RB sold to China. The Cotton Ginnings report showed that 1.287 million bales had been ginned as of 10/1, 3% larger than the same time last year. The Cotlook A index was down 20 points from the previous day at 86.15 cents/lb on October 11. The USDA weekly AWP is 67.73 cents/lb. and effective through Thursday.

--provided by Brugler Marketing & Management (402) 289-2330

Cotton Market Commentary

Cotton futures are showing triple digit gains today. Friday’s edition of the Export Sales report listed 97,997 RB in 18/19 upland cotton sales during the week of 10/4. That was well above the week prior but down 36.54% from the same time last year. Vietnam purchased 70,000 RB, with 73,967 RB reported in net reduction for China. Sales for 19/20 were tallied at 142,912 RB, with 136,400 RB sold to China. The 18/19 Balance sheet saw a 300,000 bale reduction to exports, now at 15.5 million bales. The average farm price projected by the USDA was at 69-77 cents and the midpoint down 2 cents to 73. The Cotton Ginnings report showed that 1.287 million bales had been ginned as of 10/1, 3% larger than the same time last year. The Cotlook A index down 20 points from the previous day at 86.15 cents/lb on October 11. The USDA weekly AWP was updated to 67.73 cents/lb.

Dec 18 Cotton closed at 78.370, up 156 points,

Mar 19 Cotton closed at 79.550, up 138 points

May 19 Cotton closed at 80.410, up 138 points

--provided by Brugler Marketing & Management (402) 289-2330

Cotton Market Commentary

Cotton futures are showing triple digit gains today. Friday’s edition of the Export Sales report listed 97,997 RB in 18/19 upland cotton sales during the week of 10/4. That was well above the week prior but down 36.54% from the same time last year. Vietnam purchased 70,000 RB, with 73,967 RB reported in net reduction for China. Sales for 19/20 were tallied at 142,912 RB, with 136,400 RB sold to China. The 18/19 Balance sheet saw a 300,000 bale reduction to exports, now at 15.5 million bales. The average farm price projected by the USDA was at 69-77 cents and the midpoint down 2 cents to 73. The Cotton Ginnings report showed that 1.287 million bales had been ginned as of 10/1, 3% larger than the same time last year. The Cotlook A index down 20 points from the previous day at 86.15 cents/lb on October 11. The USDA weekly AWP was updated to 67.73 cents/lb.

--provided by Brugler Marketing & Management (402) 289-2330

DEC 18 Cotton is at 78.5, up 169 points,

MAR 18 Cotton is at 79.66, up 149 points

MAY 19 Cotton is at 80.44, up 141 points

JUL 19 Cotton is at 80.99, up 133 points

Cotton Market Commentary

Cotton futures are 83 to 89 points higher this morning. They settled with most contracts steady to 20 points higher on Thursday. Cotton traders were able to by and large ignore the sliding stock market. NASS added 80,000 bales to the US production number on Thursday @ 19.76 million bales, with slightly lower acreage but yield up 6 lbs to 901 lb/ac. That hike was quickly assumed away as damage from Hurricane Michael won’t show up until next month. Ending stocks were up 300,000 bales to 5 million on a reduction to projected exports. World carryout for 18/19 was trimmed by 3 million bales to 77.45 million bales, mainly on historical revisions to India. The Cotton Ginnings report showed that 1.287 million bales had been ginned as of 10/1, 3% larger than the same time last year. Cotlook A index down 50 points from the previous day at 86.35 cents/lb on October 10. The USDA weekly AWP was updated to 67.73 cents/lb.

--provided by Brugler Marketing & Management (402) 289-2330


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