Cotton Marginally Mixed on Friday Morning

Cotton futures are trading 10 points lower to 37 points higher in the front months this morning. They 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 on Thursday. The weekly Export Sales report showed old crop upland bookings at a net reduction of 119,275 RB in the week of June 13. New crop sales totaled 221,829 RB, the second highest this MY. Upland cotton shipments totaled 321,241 RB in that week, with 36,000 RB to China and 59,200 RB to India. Total upland commitments are now 110% of USDA’s export projection, compared to the 104% average, as exports are behind normal pace (87%) at 80%. 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.

--provided by Brugler Marketing & Management

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