Cotton

Cotton futures are 12 lower to 41 higher this morning, with most of the buying interest in nearby December. They were up 68 to 159 points on Monday, despite the US dollar rising 408 points. The dollar is also modestly higher this morning. A large unpriced on call position is capturing attention. The afternoon Crop Progress report showed the US cotton harvest picking up during the week ending Sunday, at 74% complete. The average for that week is 72% with last year at 66% complete. The USDA Adjusted World Price (AWP) was updated to 61.37 cents/lb, 1 point lower than the previous week. Online cash cotton sales reported by The Seam increased to 24,820 bales, with prices up to 67.28 cents/lb. The Cotlook A index for November 17 was 40 points higher to 79.80 cents/lb.




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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