Cotton Gaining Through Midday

Cotton futures are up 53 to 83 points through midday. Old crop futures are the stronger, with gains of as much as 1%, while new crop gains are limited to 0.86% so far.

Per NASS, cotton planting progressed 3 percentage points to 11% complete during the week ending 4/18. The 5-yr national average pace is 9%. TX is 16% planted, compared to their 13% average pace, and GA is 5% planted, up from the 3% average.

USDA’s DSQ reported 995 bales sold, and basis improved to -4.18 cents/lb. The MYTD spot sales were up to 1.33m bales. The Cotlook A index was 91.00 cents/lb for 4/19 after dropping 125 points. USDA’s AWP for cotton is 68.16 cents/lb.

May 21 Cotton  is at 84.05, up 79 points,

Jul 21 Cotton  is at 85.48, up 77 points,

Dec 21 Cotton  is at 83.14, up 64 points




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