AgriCharts Market Commentary

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Cotton Market News and Commentary

March 22, 2019

Cotton futures saw losses of 6 to 60 points in the front months on Friday, pressured by a stronger dollar and lower crude oil. May was up 1.43% this week. The Cotlook A Index was UNCH on March 21 to 84.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 65.83 cents/ lb on Thursday, up 173 points from the week prior. The weekly Commitment of Traders report showed spec funds trimming their net short position as of March 19 by 9,189 contracts to 10,818 contracts in cotton futures and options. US export commitments for upland cotton are now 13.1% below the same time last year. In comparison to the USDA projected total, they are 89% complete, with the average pace at 90% for this date.

May 19 Cotton closed at 76.580, down 60 points,

Jul 19 Cotton closed at 77.570, down 46 points

Oct 19 Cotton closed at 75.860, down 6 points

--provided by Brugler Marketing & Management

Cotton Market News and Commentary

March 22, 2019

Cotton futures are down 7 to 75 points in most contracts at midday, with a stronger US dollar pressuring the market. The Cotlook A Index was UNCH on March 21 to 84.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 65.83 cents/ lb on Thursday, up 173 points from the week prior. US export commitments for upland cotton are now 13.1% below the same time last year. In comparison to the USDA projected total, they are 89% complete, with the average pace at 90%.

May 19 Cotton is at 76.43, down 75 points,

Jul 19 Cotton is at 77.44, down 59 points

Dec 19 Cotton is at 75.260, down 7 points

--provided by Brugler Marketing & Management

Cotton Market News and Commentary

March 22, 2019

Cotton futures are trading anywhere from UNCH to 11 points higher this morning. They were up 34 to 168 points in the nearby contracts on Thursday. May posted its highest close since December 19. The Cotlook A Index was up 50 points on March 19 to 84.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 65.83 cents/ lb on Thursday, up 173 points from the week prior. The weekly USDA Export Sales report showed 124,985 RB for old crop cotton, with new crop at 32,824 RB. Vietnam purchased 84,700 RB for old crop, with China cancelling a net 11,636 RB. China was the lead buyer of new crop at 15,400 RB, with Pakistan at 8,900 RB. Shipments in that week were the second largest this MY at 350,146 RB. The top destination was Pakistan at 79,000 RB, with 36,241 RB headed to China. Shipments do tend to rise seasonally for the next three months.

--provided by Brugler Marketing & Management

Cotton Market News and Commentary

March 21, 2019

Cotton futures were up 34 to 168 points in the nearby contracts on Thursday, despite a sharply higher dollar. May had its highest close since December 19. The Cotlook A Index was up 50 points on March 19 to 84.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 65.83 cents/ lb on Thursday, up 173 points from the week prior. The weekly Export Sales report by the USDA this morning showed sales of 124,985 RB for old crop cotton, with new crop at 32,824 RB. Vietnam purchased 84,700 RB for old crop, with China cancelling a net 11,636 RB. China was the lead buyer of new crop at 15,400 RB, with Pakistan at 8,900 RB. Shipments in that week were the second largest this MY at 350,146 RB. The top destination was Pakistan at 79,000 RB, with 36,241 RB headed to China.

May 19 Cotton closed at 77.180, up 168 points,

Jul 19 Cotton closed at 78.030, up 147 points

Oct 19 Cotton closed at 75.920, up 45 points

--provided by Brugler Marketing & Management

Cotton Market News and Commentary

March 21, 2019

Cotton futures are trading 46 to 56 points higher in most contracts on Thursday, with back months slightly lower. The Cotlook A Index was up 50 points on March 19 to 84.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 65.83 cents/ lb on Thursday, up 173 points from the week prior. The weekly Export Sales report by the USDA this morning showed sales of 124,985 RB for old crop cotton, with new crop at 32,824 RB. Vietnam purchased 84,700 RB for old crop, with China cancelling a net 11,636 RB. China was the lead buyer of new crop at 15,400 RB, with Pakistan at 8,900 RB.

May 19 Cotton is at 76.06, up 56 points,

Jul 19 Cotton is at 77.02, up 46 points

Dec 19 Cotton is at 74.940, down 5 points

--provided by Brugler Marketing & Management


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