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.
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Dec 20 Cotton is at 70.1, unch |
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Mar 21 Cotton is at 71.19, unch |
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May 21 Cotton is at 71.99, up 4 points |
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Jul 21 Cotton is at 72.62, up 7 points |
--- provided by Brugler Marketing & Management
