Cotton Fading Big Monday Rally

After the triple digit gains on Monday, overnight cotton trade was 15 to 28 lower to set up a possible Turnaround Tuesday fade. The weekly NASS Crop Progress report showed 69% of the crop had 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. The Cotlook A index was 76.65 c/lb. This week’s AWP for cotton is 56.71 cents/lb.

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.