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Cotton Market 55 to 83 Points Lower

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Cotton futures are 55 to 83 points lower this morning as the market focus shifts from the $2 trillion spending and lending package passed by the Senate to the upcoming unemployment data. Yesterday, cotton futures ended the mid-week trading session with gains across the front months. Futures closed with gains of as much as 55 points. Trader expectations (Bloomberg survey) ahead of USDA’s Planting Intentions report suggest 2020 US cotton acreage could be 12.4 million acres. If that average is realized, that would be a 9.5% drop off yr/yr. The 03/23 Cotlook A index was down another 150 points to 62.70 c/lb. The AWP for cotton is 49.95 c/lb. and will be updated after the close today.

--- provided by Brugler Marketing & Management

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