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Cotton Gains Triple Digits

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On Tuesday, the front month cotton futures rallied triple digits with gains of as much as 136 points. Old to new crop carry was further inverted on the day as July futures outgained Dec by 11 points. Dec to to May ’21 carry was also reduced by 15 points. The June acreage report from NASS showed that 12.19 million acres of cotton was planted. The average trade guess was for 13.15. That is down 1.518m acres from March and down 11.3% from 2019. Monday sales reported on the online cotton trading platform The Seam were 1,021 bales at an average gross price of 46.44 cents/lb. Certified stocks were reported at 36,344 bales, up 1,538 from the 26th. The Cotlook A index was 25 points lower on June 29, at 67.95 c/lb. The AWP for cotton is 49.60 cents/lb, with an LDP of 2.4 cents. Both are good through Thursday.

Jul 20 Cotton closed at 60.98, up 136 points,

Oct 20 Cotton closed at 61.48, up 135 points

Dec 20 Cotton closed at 60.88, up 125 points

Mar 21 Cotton closed at 61.54, up 125 points

--- provided by Brugler Marketing & Management

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