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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. CottonCotton futures are mostly mixed at midday, as nearby Oct is down 30 points, with back months 8 points higher. The Seam reported online cash sales of 492 bales, with prices rising 2.92 points to 68.27 cents/lb. The Cotlook A index for September 19 was up 80 points from the previous day at 79.7 cents/lb. China sold another 27,200 MT of cotton in Wednesday’s auction of state reserves that saw 27,400 MT offered. The Fed is expected to leave interest rates UNCH this afternoon, but to announce a policy on unwinding its long term debt portfolio.
CottonCotton futures are trading 35 to 37 points higher following overnight trade. They finished Tuesday with most contracts 6 to 60 cents in the red. Texas was well ahead of its average pace for cotton harvest, at 18% harvested, pulling the national average higher. Georgia ratings were down a steep 66 points on the Brugler500 scale in the week following Hurricane Irma, dropping to 307. Arkansas, Louisiana and South Carolina were the only other states to report lower conditions. The Cotlook A index for September 18 was down 20 points from the previous day at 78.9 cents/lb. China sold another 26,000 MT of cotton in Tuesday’s auction of state reserves that saw 27,100 MT offered. The Fed is expected to leave interest rates UNCH this afternoon, but to announce a policy on unwinding its long term debt portfolio. CottonCotton futures finished Tuesday with most contracts 6 to 60 cents in the red. Texas was well ahead of its average pace for cotton harvest, at 18% harvested, dragging the national average higher. Georgia ratings were down a steep 66 points on the Brugler500 scale in the week following Hurricane Irma, dropping to 307. Arkansas, Louisiana and South Carolina were the only other states to report lower conditions. The Cotlook A index for September 18 was down 20 points from the previous day at 78.9 cents/lb. China sold another 26,000 MT of cotton in Tuesday’s auction of state reserves that saw 27,100 MT offered.
CottonCotton futures are steady to 48 points lower in the nearby contracts on Tuesday. As of Sunday, the US cotton crop had 44% of the bolls opening. NASS indicated 11% of the crop was harvested, vs. 6% average. Texas was well ahead of its average pace, at 18% harvested. US condition ratings were down 2% to 61% gd/ex, as the Brugler500 was 7 points lower at 358. Georgia ratings were down a steep 66 points on the Brugler500 scale in the week following Hurricane Irma, dropping to 307. Arkansas, Louisiana and South Carolina were the only other states to report lower conditions. The Cotlook A index for September 18 was down 20 points from the previous day at 78.9 cents/lb. China sold another 26,000 MT of cotton in Tuesday’s auction of state reserves that saw 27,100 MT offered.
Cotton
Cotton futures are 28 lower to 25 higher this morning after they showed slight to 91 point gains on Monday. As of Sunday, the US cotton crop had 44% of the bolls opening. NASS indicated 11% of the crop was harvested, vs 6% average. Texas was well ahead of its average pace. US condition ratings were down 2% to 61% gd/ex, as the Brugler500 was 7 points lower at 358. Georgia ratings were down a steep 66 points on the Brugler500 scale in the week following Hurricane Irma, dropping to 307. The Cotlook A index for September 15 was unchanged from the previous day at 79.1 cents/lb. China sold another 24,200 MT of cotton in Monday’s auction of state reserves that saw 25,200 MT offered. Market Commentary provided by: |
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