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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 were 32 to 63 points higher on the day. A slight decline in overall condition reported Monday and continued forecasts for dryness in TX supported the market. Gains were limited by a sharply higher US dollar, up 456 points. NASS reported last night that TX has 23% of the crop setting bolls, up 6% from the average, with GA lagging by 1% at 36%. Condition ratings were tallied at 267 points in TX, down 1, as OK was down 50 at 258. The Cotlook A index was down 75 points from the previous week to 97.70 cents/lb on July 16. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior.
CottonCotton futures are trading 23 to 53 points higher in most front months on Tuesday, shaking off overnight weakness. A slight decline in overall condition reported Monday and continued forecasts for dryness in TX are supporting the market. NASS reported last night that TX has 23% of the crop setting bolls, up 6% from the average, with GA lagging by 1% at 36%. Condition ratings were tallied at 267 points in TX, down 1, as OK was down 50 at 258. The Cotlook A index was down 75 points from the previous week to 97.70 cents/lb on July 16. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior.
CottonCotton futures are trading 93 points lower in the October contract this morning. The others are 24 to 28 lower. They were 2 to 8 points lower yesterday. NASS reported last night that 72% of the US cotton crop was squared as of Sunday, with 31% setting bolls (ahead of the normal pace of 24%). Cotton conditions were 41% good/ex, steady on the week, although the Brugler500 Index was down 3 points to 310 on more very poor ratings. The Cotlook A index was up 2 cents from the previous week to 98.45 cents/lb on July 13. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. CottonCotton futures saw marginal losses on Monday, with nearby contracts 2 to 8 points lower. Crude oil was down a sharp $2.95 on the day, putting a little pressure on cotton. NASS reported that 72% of the US cotton crop was squared as of Sunday, with 31% setting bolls (ahead of the normal pace of 24%). Cotton conditions were shown at 41% gd/ex, steady on the week, as the Brugler500 was down 3 points to 310 on more very poor ratings. The Cotlook A index was up 2 cents from the previous week to 98.45 cents/lb on July 13. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior.
CottonCotton futures are currently 19 to 36 points lower at midday. Crude oil is down a sharp $2.97 at the moment, putting a little pressure on cotton at midday. The Cotlook A index was up 2 cents from the previous week to 98.45 cents/lb on July 13. The weekly USDA AWP was updated to 76.17 cents/lb through next Thursday, up 1.58 cents from the week prior. Speculators in cotton futures and options added 1,975 contracts to their CFTC net long position as of Tuesday to a net position of 77,274 contracts.
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