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Cotton Trading Down by Triple Digits

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The thinly traded October contract (OI @ 31) is down by 100 points at midday. The other front months are 60 to 97 points lower. There was a broad but shallow sell off overnight across many commodities from energies to grains to softs. USDA’s weekly Export Sales report data showed cotton bookings were down 25% wk/wk to 249,112 RBs sold. The sales were split 128,898 RBs old crop and 120,214 RBs of 2020/21 cotton. Cotton shipments on the week were 252,233 RBs. MYTD exports were up to 10.810m RBs which was 13% above 18/19’s pace and 72% of USDA’s forecast. The 05/21 Cotlook A index was down a penny to 66.35c/lb. The updated AWP for the week is 48.01 cents/lb, and the LDP is 3.99 cents/lb.

Jul 20 Cotton is at 57.46, down 60 points,

Oct 20 Cotton is at 57.37, down 100 points

Dec 20 Cotton is at 57.73, down 97 points

Mar 21 Cotton is at 58.59, down 88 points

--- provided by Brugler Marketing & Management

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