Cotton Prices Gaining on Months End

Front month cotton futures are trading with triple digit gains through midday for the last trade day of April. Old crop futures are 162 to 180 points in the black, where new crop gains are 141 to 153 points. May futures had 66 delivery notices issued, and preliminary OI data suggests just 3 contracts remain open through 4/29.  

China announced an increase of 700,000 MT (3.215 million bales) addition to their import quota for cotton for non-state importers. The yearly quota was originally 894,000 MT for 2021, with the addition brining that to 1.594 MMT (~7.32 million bales).

The Cotlook A index was down by 2 cents to 94.90 cents/lb on 4/29. The new AWP for cotton is 73.71 cents/lb after a 322 point bump.     

May 21 Cotton  is at 87.51, up 162 points,

Jul 21 Cotton  is at 88.34, up 180 points,

Dec 21 Cotton  is at 85.25, up 141 points

Market Commentary provided by:

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