Cotton Triple Digits Stronger

More positive vaccine news (Moderna) left equities and cotton futures in the black on Monday. Cotton closed the first trading day of the week 111 to 136 points higher. The weekly NASS Crop Progress report showed 69% of the crop has been harvested through 11/15. That was up 8% on the week and still 5% points ahead of average pace. The weekly Commitment of Traders report, delayed respecting Veteran’s Day, showed managed money was 59,094 contracts net long on 11/10. That was a 5,077 contract weaker net long on the week, with spec trader OI decreasing 205 contracts. Last week’s sales on the online cotton trading platform The Seam were 20,334 bales for a weighted average price of 67.68 cents/lb. The Cotlook A index was 76.65 c/lb after another 70 point dip. This week’s AWP for cotton is 56.71 cents/lb.

Dec 20 Cotton closed at 69.57, up 111 points,

Mar 21 Cotton closed at 71.58, up 118 points

May 21 Cotton closed at 72.46, up 119 points

Jul 21 Cotton closed at 73.12, up 116 points

--- provided by Brugler Marketing & Management

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