Cotton Market News and Commentary

Cotton futures are trading 6 to 15 points higher this morning. They were mostly 13 to 30 points higher at Tuesday’s settlement. A Tuesday bounce in crude oil was supportive to cotton. The US dollar continues to weaken vs. the Chinese yuan, which could eventually give them some more buying power. US and Chinese trade officials will meet in DC starting today. The Cotlook A Index was up 100 points on January 28 to 83.6 cents/lb. The USDA Adjusted World Price is 64.90 cents/lb, effective through Thursday. The weekly Export Sales report would typically be scheduled for this Thursday, though we have no official word from USDA/FAS on how they will handle release of the backlogged data.

--provided by Brugler Marketing & Management

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