Cotton Market Rebounds Overnight

Cotton futures are 90 to 121 higher on a Turnaround Tuesday attempt fueled by higher equity futures. The 153 point loss on Monday left May futures 834 points lower since the last green candle on 03/13. The other front months closed 220 to 226 points lower. USDA reported that through 03/19, 1.374 million bales of cotton were sold at spot, comparing to 0.913 million through the same time in the 18/19 MY. Last week’s sales on the online cotton trading platform The Seam totaled 9,581 bales. The 03/20 Cotlook A index was down another 165 points to 64.95 c/lb. The AWP for cotton is 49.95 c/lb. through Thursday. The LDP is 2.05 cents. --- provided by Brugler Marketing & Management




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