Front month cotton futures traded down 1.39% to 1.49% on Tuesday. A sliding stock market fueled demand concerns. The 7-day QPF shows as much as 7” of rain for West Texas. TX has been very dry, but with cotton harvest underway the rain may be less than beneficial. NASS reported 37% of the 2020/21 cotton crop was opening bolls as of Sunday the 6th. The 5-yr average pace is 34%. In TX, 39% of cotton was opening bolls, up from 33% LW and 11 ppts ahead of their average. Cotton conditions for week 36 were up 6 points on the Brugler500 index to 316. Condition ratings in CA were sharply lower, but offset by improving conditions in KS and TX. The Cotlook A index for Sept 7 was 70.6 cents/lb, back up 75 points. The Adjusted World Price for cotton is 50.44 cents/lb, with a 1.56 cent LDP.

--- provided by Brugler Marketing & Management