Cotton Retreating Triple Digits on Tuesday

Cotton futures are down 116 to 126 points at midday, taking some money off the table following Monday’s 18 month high. With Monday first Notice day for Dec Futures, there were 78 notices put out, including 50 from a merchant. Stoppers were SG Americas and Marex clients. A swath of precip from the 7 day QPF shows much of Eastern TX to the East Coast getting hit, though harvest progressing faster than expected is dampening the market at midday. USDA’s Crop Progress report indicated that cotton harvest was 77% complete as of Sunday, up 8% on the week and 6% faster than the 5-year average. Harvest was 14% faster than normal in TX at 74% complete. The Seam had another large 34,261 bales traded on Monday at an average price of 70.47 cents, up 79 points from the previous day. The Cotlook A index was up 130 points to 79.20 cents/lb as of November 23. The AWP for cotton is 56.84 cents/lb. through Thursday.

DEC 20 Cotton is at 70.89, down 126 points,
MAR 21 Cotton is at 72.64, down 116 points
MAY 21 Cotton is at 73.48, down 117 points
JUL 21 Cotton is at 74.08, down 116 points

--- 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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.