Cotton futures are trading 44 to 45 points lower on Thursday, despite another week of excellent export sales. All upland cotton 17/18 export sales were tallied at 364,711 RB by the USDA for the week of 2/8 this morning. That was down from the previous week as expected but was 64.15% above the same week last year. New crop sales were reported at a MY high of 130,982 RB. Shipments of upland cotton backed off last week’s MY high to 324,682 RB, 5.86% lower than the same time last year. The USDA Adjusted World Price or AWP was trimmed 30 points from the previous week to 69.15 cents/lb on Thursday. The Cotlook A index on February 14 was 87.35 cents/lb, UNCH from the previous day.

Mar 18 Cotton closed at 75.410, down 19 points,

May 18 Cotton closed at 76.770, down 20 points

Jul 18 Cotton closed at 77.760, down 24 points

Market Commentary provided by:

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