Cotton

Cotton futures saw gains of 33 to 76 points on Friday. All upland cotton export shipments for the week of November 2 totaled 124,292 RB, nearly 43.13% over last week but still lagging last year. Total export commitments for upland cotton are now 63% of the USDA full year projection, well above last year’s 45% and the average of 49%. On Thursday, the USDA raised the US average yield 11 lbs/ac to 900 lbs/ac, which would be a record. They also adjusted the average farm price of cotton to a range of 60-66 cents/lb, with a midpoint of 63 cents/lb, up 3 cents. The USDA average world price (AWP) was updated to 61.38 cents/lb, 33 points higher than the previous week. The Cotlook A index for November 9 was 50 points higher to 79.60 cents/lb.

Dec 17 Cotton closed at 69.050, up 76 points,

Mar 18 Cotton closed at 69.140, up 60 points

Jul 18 Cotton closed at 70.570, up 42 points




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