Monday cotton opens 23 to 62 points higher. Despite negative interest rates, the euro is still gaining against the US dollar following the Fed’s easy money stance at the virtual Jackson Hole conference. At the closing bell on Friday futures were 29 to 42 points weaker. From the week’s CoT report, managed money was a net buyer for cotton on the week ending 8/25. Spec trader OI increased 4,962 contracts leaving the group 48,723 contracts net long. That is the largest cotton net long for the funds since the week ending October 2 2018. WTD sales on The Seam through Thursday were 20,183 bales at a wtd ave price of 59.84 cents/lb. The Cotlook A index for August 27 was still 71.35 cents/lb. The AWP for cotton for the week is 50.50 cents/lb, with a 1.5 cent LDP.

--- provided by Brugler Marketing & Management