Cotton Market 7 to 24 Points Higher Overnight

Cotton futures are 7 to 24 points higher this morning offsetting some of the 29 to 52 points lost on Wednesday. CONAB issued a 2.73 MMT forecast for the 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.

--provided by Brugler Marketing & Management

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