AgriCharts Market Commentary

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Cotton

Cotton futures were mostly 91 to 187 points in the green on Friday, after seeing a 7.57% increase since last week. Export sales of old crop Upland cotton were reported at 399,123 RB for the week of February 15. New crop sales were shown at 177,217 RB. Shipments of cotton were reported at 333,531 RB, above last week but still 2.08% lower than the same time a year ago. Cotton yield is expected to drop to 828 lbs/acre during 2018/19 according to the USDA's Ag Outlook Forum. The lower yield is expected to more than offset the more acreage to drop production 1.76 million bales to 19.5 million bales. The USDA Adjusted World Price or AWP was updated to 69.69 cents/lb on Thursday, 54 points higher than the previous week. The Cotlook A index was up 150 points from the previous day on February 22 at 90.20 cents/lb.

Mar 18 Cotton closed at 81.450, up 91 points,

May 18 Cotton closed at 81.340, up 187 points

Jul 18 Cotton closed at 82.070, up 166 points

Cotton

Cotton futures are showing gains of 92 to 129 points on Friday. Export sales of old crop Upland cotton were reported at 399,123 RB for the week of February 15. New crop sales were shown at 177,217 RB. Cotton yield is expected to drop to 828 lbs/acre during 2018/19 according to the USDA's Ag Outlook Forum. The lower yield is expected to more than offset the more acreage to drop production 1.76 million bales to 19.5 million bales. The USDA Adjusted World Price or AWP was updated to 69.69 cents/lb on Thursday, 54 points higher than the previous week. The Cotlook A index was up 150 points from the previous day on February 22 at 90.20 cents/lb.

Mar 18 Cotton is at 81.46, up 92 points,

May 18 Cotton is at 80.76, up 129 points

Jul 18 Cotton is at 81.55, up 114 points

Cotton

Cotton futures are currently 29 lower to 35 higher, with nearby March retreating from a strong 3 day rally ahead of the weekend. They were mixed on Thursday, with nearby March 163 points higher on thin trade. Deferred contracts were mostly steady to 92 points lower. Cotton acreage is expected to hit 13.3 million acres in 2018 according to the USDA's Ag Outlook Forum. That is well above the 2017 number of 12.6 million acres. The average price expected by the USDA chief economist is 63 cents/lb, down 6 cents from the previous week. The USDA Adjusted World Price or AWP was updated to 69.69 cents/lb on Thursday, 54 points higher than the previous week. The Cotlook A index was up 185 points from the previous day on February 21 at 88.70 cents/lb.

Cotton

Cotton futures were mixed on Thursday, with nearby March 163 points higher on thin trade. Deferred contracts were mostly steady to 92 points lower. Cotton acreage is expected to hit 13.3 million acres in 2018 according to the USDA's Ag Outlook Forum. That is well above the 2017 number of 12.6 million acres. The average prices expected is at 63 cents/lb, down 6 cents from the previous week. The USDA Export Sales report is delayed until Friday morning because of the President’s Day holiday. The current USDA Adjusted World Price or AWP was updated to 69.69 cents/lb on Thursday, 54 points higher than the previous week. The Cotlook A index was up 185 points from the previous day on February 21 at 88.70 cents/lb.

Mar 18 Cotton closed at 80.540, up 163 points,

May 18 Cotton closed at 79.470, down 92 points

Oct 18 Cotton closed at 77.420, down 52 points

Cotton

Cotton futures are mixed, with nearby March 53 points higher and back months lower. Cotton acreage is expected to hit 13.3 million acres in 2018 according to the USDA's Ag Outlook Forum. That is well above the 2017 number of 12.6 million acres. The average prices expected is at 63 cents/lb, down 6 cents from the previous week. The USDA Export Sales report is delayed until Friday morning because of the President’s Day holiday. The current USDA Adjusted World Price or AWP is 69.15 cents/lb, and will be updated on Thursday. The Cotlook A index was up 185 points from the previous day on February 21 at 88.70 cents/lb.

Mar 18 Cotton is at 79.44, up 53 points,

May 18 Cotton is at 79.61, down 78 points

Jul 18 Cotton is at 80.47, down 63 points


Market Commentary provided by:

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