Cotton futures saw gains of 15 to 47 cents in most contracts on Friday. The US dollar was supportive, down 155 points. Accumulated exports for 2017/18 upland cotton are 15.32% lower than last year, with total export commitments running 40.7% ahead of this time last year. There are 7.456 million RB in outstanding sales currently, with 2.19 million RB in exports completed since August 1. The USDA Adjusted World Price (AWP) was updated to 64.22 cents/lb on Thursday, up 1.63 cents/lb from the previous week. The Cotlook A index was up 125 points from the previous day points to 83.70 cents/lb on November 30. The Commitment of Traders report showed the spec funds adding a big 18,677 contracts to their net long last week, taking it to 70,728 contracts as of November 28. It was only 42,208 contracts two weeks ago.

Dec 17 Cotton closed at 75.430, up 39 points,

Mar 18 Cotton closed at 73.280, up 47 points

Jul 18 Cotton closed at 74.050, up 22 points

Market Commentary provided by:

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