Cotton Finish with Wednesday Losses

Cotton futures were 29 to 52 points lower after the close. CONAB issued a 2.73 MMT forecast of 19/20 Brazilian cotton crop, which is 10,000 above the October estimate. The Seam reported online cotton sales of 7,082 on 11/12. Cotton exports to China have been low enough over the last few years to persuade some analysts to adjust 2020/21 cotton planted acreage down; of course as harvest is still under way for this crop. Bear in mind there is a lot that can happen from now until then. The Nov 12th Cotlook A Index dropped 95 points, down to 75.00 cents/lb. The AWP of 56.63 cents/lb will be updated tomorrow.

Dec 19 Cotton closed at 64.22, down 52 points,

Mar 20 Cotton closed at 66.05, down 45 points

May 20 Cotton closed at 67.24, down 44 points

Jul 20 Cotton closed at 68.37, down 29 points

--provided by Brugler Marketing & Management

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