Cotton Mostly Higher on Monday

Cotton futures are trading 77 to 122 points higher on Monday, ignoring thinly traded Oct. They had been lower overnight. Forecasts are calling for rainfall in most of the Cotton Belt over the next week, slowing planting and causing some concerns due to already saturated ground. USDA will release their cotton planting progress update this afternoon. As of Tuesday, Spec traders in Cotton futures and options backed off their record net short position by 1,882 contracts to -35,204 contracts. The Cotlook A index for May 231 was up 25 points from the previous day to 80.35 cents/lb. The weekly Average World Price (AWP) is 61.31 cents/lb through Thursday.

Jul 19 Cotton is at 69.3, up 122 points,

Oct 19 Cotton is at 67.46, down 31 points

Dec 19 Cotton is at 67.88, up 81 points

Mar 20 Cotton is at 68.460, up 72 points

--provided by Brugler Marketing & Management

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