Cotton Gains again on Wednesday

Cotton futures ended the mid-week trading session with gains across the front months. Futures were firm to mixed at midday but closed with gains of as much as 55 points. The stock market (Dow) had intraday gains of 1,300 points, but ultimately closed only 495.64 points higher. Apparently, the potential for $2 trillion in financial grease from the taxpayers is enough to restore confidence in the markets. Trader expectations ahead of USDA’s Planting Intentions report suggest 2020 US cotton acreage could be 12.4 million acres. If estimates are realized, that would be a 9.5% drop off yr/yr. The 03/23 Cotlook A index was down another 150 points to 62.70 c/lb. The AWP for cotton is 49.95 c/lb. through Thursday.

May 20 Cotton closed at 53.44, up 55 points,

Jul 20 Cotton closed at 53.53, up 52 points

Oct 20 Cotton closed at 55.19, up 49 points

Dec 20 Cotton closed at 55.04, up 39 points

--- provided by Brugler Marketing & Management




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