Cotton Higher on Support from Trade Talks

Cotton futures are higher so far this Friday, up triple digits from 150 to 234 points higher in the nearby contracts. Optimism from this week’s trade talks are lending support at midday. President Trump and Vice Premier Lis He are expected to meet this afternoon. Outside of the production reduction on Thursday (6 lb drop to yield at 833 lbs/ac), USDA left the demand side unch for the US balance sheet. Through October 3, exports of upland cotton have totaled 1.905 million RB, 12% of USDA’s projection and ahead of the 11% average pace. Total commitments are 58% of that projection and 7% faster than normal. The Cotlook A Index was down 50 points to 71.75 cents/lb for October 9. The AWP is was updated to 53.90 cents/lb on Thursday, up 54 points from last week.

DEC 19 Cotton is at 63.76, up 234 points,

MAR 19 Cotton is at 64.22, up 214 points

MAY 20 Cotton is at 64.6, up 187 points

JUL 20 Cotton is at 64.78, up 150 points

-- provided by Brugler Marketing & Management




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