Cotton Post 3-Year Low on Weak Export Sales Data

Cotton futures posted losses of 73 to 217 points in the front months on Thursday. July hit the lowest price since June 2016 on the front month continuation chart. The dollar index was down 488 points, with crude up $3.87/barrel on the day. Those were both supportive, but the market focused more on the export data. The weekly Export Sales report showed old crop upland bookings at a net reduction of 119,275 RB in the week of June 13. China cancelled 69,939 RB, with 84,600 RB in net reductions for Turkey. New crop sales totaled 221,829 RB, the second highest this MY. Turkey purchased 98,200 RB of new crop, with China buying 49,444 RB. The Cotlook A index for June 19 was up 50 points from the previous day to 77.50 cents/lb. The weekly Average World Price (AWP) from USDA is now 59.14 cents/lb through next Thursday, up 17 points from the previous week.

Jul 19 Cotton closed at 63.210, down 217 points,

Oct 19 Cotton closed at 65.500, down 143 points

Dec 19 Cotton closed at 65.960, down 120 points

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.