Cotton Higher On Possible Fed Juice

Cotton futures are 30 to 40 points higher on Wednesday morning after dropping 45 to 80 points in most contracts on Turnaround Tuesday. Stock market futures rebounded strongly yesterday on ideas that the Fed would cut interest rates if the economy is slowing even a little bit. USDA reported TX progress at 64% planted as of Sunday, with GA at 84%, both slightly ahead of normal. Initial TX cotton ratings were at 331 and GA at 336. The Cotlook A index for May 231 was down 125 points from the previous day to 79.10 cents/lb. The weekly Average World Price (AWP) is 61.31 cents/lb through Thursday.

--provided by Brugler Marketing & Management




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