Cotton Futures Up 61 to 75 Points This Morning

Overnight cotton trading has futures 61 to 75 points higher than Friday’s close. On Friday prices were 2 to 46 points lower. USDA’s Export Sales report showed 236,760 RBs of cotton booked on the week ending 11/5. That was more than double last week’s and 43% above the same week last year. Outstanding sales are behind 19/20’s levels for week 14 with 5.611m unshipped. The 3.49m RBs of accumulated shipments are, however, up 41% yr/yr, leaving total commitments just 5% behind 19/20 at 9.1m RBs. USDA’s weekly Cotton Market Review showed the 22,630 bales sold ranged from 64.30 c/lb to 65.89 c/lb. The Cotlook A index was 77.35 c/lb after a 25 point dip. This week’s AWP for cotton is 56.71 cents/lb, after a 70 point bump on Thursday.

--- provided by Brugler Marketing & Management

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