AgriCharts Market Commentary

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.

Cotton

July 16, 2018

Cotton futures are 19 lower to 42 higher this morning, with only front month October in the red. They showed losses of 34 to 73 points in all the front months on Friday, due mostly to pre-weekend profit taking. The US dollar index is weaker in overseas trading ahead of the US open. USDA’s old crop export projection for US is now at 16.2 million bales, with new crop dropping 500,000 bales to 15 million. Thursday’s WASDE showed a jump in the average cash price for 18/19 to a range of 68-82 cents/lb. CFTC’s Cotton on Call report showed December’s unfixed call sales position at 52,212 contracts on July 6, down 1,574 from the week prior. Safras & Mercado estimates that Brazil’s cotton planted acreage will rise by 10.8% in 18/19. The Cotlook A index was down 2 cents to 94.45 cents/lb on July 12. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their net long position as of Tuesday to a net position of 77,274 contracts.

Cotton

July 13, 2018

Cotton futures showed losses of 34 to 73 points in the front months on Friday, on pre-weekend profit taking. USDA’s old crop export projection for US is now at 16.2 million bales, with new crop dropping 500,000 bales to 15 million. Thursday’s WASDE showed a jump in the average cash price for 18/19 to a range of 68-82 cents/lb. CFTC’s Cotton on Call report showed December’s unfixed call sales position at 52,212 contracts on July 6, down 1,574 from the week prior. Safras & Mercado estimates that Brazil’s cotton planted acreage will rise by 10.8% in 18/19. The Cotlook A index was down 2 cents to 94.45 cents/lb on July 12. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their net long position as of Tuesday to a net position of 77,274 contracts.

Oct 18 Cotton closed at 88.900, down 34 points,

Dec 18 Cotton closed at 87.840, down 70 points

Mar 19 Cotton closed at 87.620, down 73 points

Cotton

July 13, 2018

Cotton futures showed losses of 34 to 73 points in the front months on Friday, on pre-weekend profit taking. USDA’s old crop export projection for US is now at 16.2 million bales, with new crop dropping 500,000 bales to 15 million. Thursday’s WASDE showed a jump in the average cash price for 18/19 to a range of 68-82 cents/lb. CFTC’s Cotton on Call report showed December’s unfixed call sales position at 52,212 contracts on July 6, down 1,574 from the week prior. Safras & Mercado estimates that Brazil’s cotton planted acreage will rise by 10.8% in 18/19. The Cotlook A index was down 2 cents to 94.45 cents/lb on July 12. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their net long position as of Tuesday to a net position of 77,274 contracts.

Oct 18 Cotton closed at 88.900, down 34 points,

Dec 18 Cotton closed at 87.840, down 70 points

Mar 19 Cotton closed at 87.620, down 73 points

Cotton

July 13, 2018

Cotton futures are currently 57 to 122 points lower in the nearby contracts, on pre-weekend long liquidation/profit taking. USDA’s old crop export projection for US is now at 16.2 million bales, with new crop dropping 500,000 bales to 15 million. Thursday’s WASDE showed a jump in the average cash price for 18/19 to a range of 68-82 cents/lb. CFTC’s Cotton on Call report showed December’s unfixed call sales position at 52,212 contracts on July 6, down 1,574 from the week prior. Safras & Mercado estimates that Brazil’s cotton planted acreage will rise by 10.8% in 18/19. The Cotlook A index was down 2 cents to 94.45 cents/lb on July 12. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior.

Oct 18 Cotton is at 88.02, down 122 points,

Dec 18 Cotton is at 87.77, down 76 points

Mar 19 Cotton is at 87.52, down 83 points

May 19 Cotton is at 87.660, down 57 points

Cotton

July 13, 2018

Cotton futures are currently 47 to 66 points lower on pre-weekend long liquidation/profit taking. They were limit up on Thursday. The USDA dropped their US cotton production projection to 18.5 million bales, down 1 million bales from last month on fewer harvested acres. That helped bring the new crop ending stocks down 700,000 bales to 4 million bales, even with 17/18. Old crop world stocks were cut by 3.26 million bales to 84.96 on increased consumption and smaller beginning stocks. New crop world stocks were also reduced by the same factors to 77.84 million bales. Export sales of old crop upland cotton in the week that ended on July 5 were tallied at 121,603 RB, with just a little over 3 reporting weeks left in the MY. China bought 5,600 RB for old crop. New crop sales were reported at 251,429 RB. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior.


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