AgriCharts Market Commentary

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Cotton

January 23, 2018

Cotton futures saw sharp losses of 34 to 115 points on Tuesday, on a little bit of profit taking. This morning’s USDA Cotton Ginnings report showed 17.43 million RB had been ginned as of January 15. That was a 1.277 million RB jump since Jan 1, and is 17% larger than this time last year. Online cash sales on the Seam totaled 19,538 bales on Monday, with prices down 36 points, averaging 72.32 cents/lb. The Cotlook A Index for January 22 was up 75 points from the previous day at 94.10 cents/lb.

Mar 18 Cotton closed at 82.260, down 115 points,

May 18 Cotton closed at 82.740, down 104 points

Jul 18 Cotton closed at 83.190, down 100 points

Cotton

January 23, 2018

Cotton futures are currently 80 to 89 points lower on Tuesday, on a little bit of profit taking. Friday’s Cotton classing report showed that 598,507 bales of upland cotton were classed for the week that ended January 18. That brings the total for the marketing year to 16.889 million bales. This morning’s USDA Cotton Ginnings report showed 17.43 million RB had been ginned as of January 15. That was a 1.277 million RB jump since Jan 1, and is 17% larger than this time last year. Online cash sales on the Seam totaled 19,538 bales on Monday, with prices down 36 points, averaging 72.32 cents/lb. The Cotlook A Index for January 22 was up 75 points from the previous day at 94.10 cents/lb.

Mar 18 Cotton is at 82.52, down 89 points,

May 18 Cotton is at 82.98, down 80 points

Jul 18 Cotton is at 83.39, down 80 points

Cotton

January 23, 2018

Cotton futures are 22 to 29 points lower in the early Tuesday activity. They were fairly quiet on Monday, as most contracts were within 5 points of UNCH. Upland cotton export commitments are 82% of the USDA projection, with unshipped sales still a big chunk of that number. Friday’s Cotton classing report showed that 598,507 bales of upland cotton were classed for the week that ended January 18. That brings the total for the marketing year to 16.889 million bales. The Cotlook A Index for January 19 was up 50 points from the previous day at 93.35 cents/lb.

Cotton

January 22, 2018

Cotton futures were fairly quiet on Monday, as most contracts were within 5 points of UNCH. Upland cotton export commitments are 82% of the USDA projection, with unshipped sales still a majority of that number. Friday’s Cotton classing report showed that 598,507 bales of upland cotton were classed for the week that ended January 18. That brings the total for the marketing year to 16.889 million bales. The Cotlook A Index for January 19 was up 50 points from the previous day at 93.35 cents/lb.

Mar 18 Cotton closed at 83.410, down 1 point,

May 18 Cotton closed at 83.780, down 1 point

Jul 18 Cotton closed at 84.190, down 4 points

Cotton

January 22, 2018

Cotton futures are slightly mixed at Monday's midday. Upland cotton export commitments are 82% of the USDA projection, with unshipped sales still a majority of that number. The average for this time of year is 71%, with last year at 65%. CFTC data on Friday showed managed money spec funds adding 4,216 contracts to their net long position as of Tuesday to 108,778 contracts. That is their largest net long position dating back to 2006 when the Disaggregated data series began. The Cotlook A Index for January 19 was up 50 points from the previous day at 93.35 cents/lb.

Mar 18 Cotton is at 83.42, unch,

May 18 Cotton is at 83.76, down 3 points

Jul 18 Cotton is at 84.17, down 6 points


Market Commentary provided by:

Brugler Marketing & Management LLC
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