Cotton Mixed at Midday

Cotton is trading mixed, with Dec up 100 points ahead of FND. March is up 11 points, with most other contracts down 11 to 39 points. The outside markets are playing some factor, with crude oil down $1.90/barrel and the US dollar index up 44 points. 

A private consultancy group Agroconsult estimates Brazil’s cotton acreage at 1.94 million hectares (4.79 million acres)

The Seam had sales of just 820 cash bales traded on November 21 at an average price of 69.66 cents/lb, down 2.04 cents vs. the previous day. 

The Cotlook A Index was back down 25 points on November 21 at 91.15 cents/lb. The AWP for this week is 64.23 cents/lb and will be adjusted by FSA later this week. 

 

Dec 23 Cotton  is at 78.34, up 100 points,

Mar 24 Cotton  is at 80.8, up 11 points,

May 24 Cotton  is at 81.35, down 8 points

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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