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AgriCharts Market CommentaryDo 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 Market CommentaryCotton futures settled the Wednesday session with most contracts 53 to 69 points in the green. The US dollar was weaker on the day and there was some bargain hunting. The weekly Crop Progress report indicated that TX had 93% of the bolls open and harvest progress at 42% vs. the 48% average. GA was reported at 61% harvested, compared to the average at 64%. The USDA weekly AWP is 69.86 cents/lb, good through this Thursday. The Cotlook A index was down 135 points from the previous day at 86.05 cents/lb on Nov 13. The Cert stocks level for delivery against Dec Futures has risen to 97,981 bales.
--provided by Brugler Marketing & Management Cotton Market CommentaryCotton futures are 32 to 56 points higher in most contracts on Wednesday. The weekly Crop Progress report indicated that 54% of the US cotton crop was harvested as of 11/11, still trailing the 61% average. TX had 93% of the bolls open and harvest progress at 42% vs. the 48% average. The USDA weekly AWP is 69.86 cents/lb, good through this Thursday. The Cotlook A index was down 135 points from the previous day at 86.05 cents/lb on Nov 13. The Cert stocks level for delivery against Dec Futures has risen to 97,981 bales.
--provided by Brugler Marketing & Management Cotton Market CommentaryCotton futures are trading 49 to 52 points higher this morning. They were 52 to 60 points lower on Tuesday after an overnight rally attempt failed. The US dollar index was down 369 points on the day, but a sharply lower crude oil pressured the market for synthetic fibers. The weekly Crop Progress report indicated that 54% of the US cotton crop was harvested as of 11/11, still trailing the 61% average. Snow can be a problem! The USDA weekly AWP is 69.86 cents/lb, good through this Thursday. The Cotlook A index was down 95 points from the previous day at 87.40 cents/lb on Nov 12. --provided by Brugler Marketing & Management Cotton Market CommentaryCotton futures failed to post a Turnaround Tuesday bounce, down 52 to 60 points following an overnight rally attempt. The US dollar index was down 369 points on the day, but a sharply lower crude oil pressured the market for synthetic fibers. The weekly Crop Progress report indicated that 54% of the US cotton crop was harvested as of 11/11, still trailing the 61% average. Snow can be a problem! The USDA weekly AWP is 69.86 cents/lb, good through this Thursday. The Cotlook A index was down 95 points from the previous day at 87.40 cents/lb on Nov 12.
--provided by Brugler Marketing & Management Cotton Market CommentaryCotton futures are failing to post a Turnaround Tuesday bounce, down 61 to 67 points at midday following an overnight rally attempt. The US dollar index is down 405 points at midday, but sharply lower crude oil is pressuring the market for synthetics. Crop Progress data will be released this afternoon due to Monday’s federal holiday. The USDA weekly AWP is 69.86 cents/lb, good through this Thursday. The Cotlook A index was down 95 points from the previous day at 87.40 cents/lb on Nov 12.
--provided by Brugler Marketing & Management Market Commentary provided by: |
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