Cotton Firm at Midday

Cotton futures are keeping a tight range on the day so far, flickering between UNCH. At midday losses are limited to 5 points and gains are capped at 7 with both March and Dec at breakeven. Cotton export sales were reported as 171,261 RBs, split 116k RBs for 2020/21 delivery and 56k NMY. Combined sales to China made up 55.5% of the total, but 2020/21 sales to China were 75% of the total. MYTD cotton commitments total 8.865m RBs, which is down 6% yr/yr. Monday cotton sales on The Seam were 2,767 bales at an average gross price of 69.73 cents/lb. USDA’s Cotton Spot Quotations update for 11/4 showed 3,918 bales sold for an average 65.66 cents/lb. The Cotlook A index recovered 140 points to 77 cents flat. The AWP for cotton is 57.37, and will be updated later today.

Dec 20 Cotton is at 70.1, unch

Mar 21 Cotton is at 71.19, unch

May 21 Cotton is at 71.99, up 4 points

Jul 21 Cotton is at 72.62, up 7 points

--- provided by Brugler Marketing & Management

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