Nearby cotton futures were down by 10 to 183 points, with the more aggressive move again in the old crop. Dec prices were held to within an 80 point range on the session.

USDA’s Ag Attache raised Brazil’s cotton production by 340k bales to 14.9 million, but cut carryout by 200k to 11 million. On net ending stocks were raised to 6.2m bales. The initial outlook for 24/25 cotton has area increasing to 1.87m HA and production up to 15.35 million. 

NOAA’s updated 7-day QPF has rainfall in E. TX and N. LA amounting to as much as 1 3/4”. Northern MS/GA/AL will also get up to an inch over the week. 

The Cotlook A Index was back down by 235 points to 95.60 cents/lb on 3/28. The AWP was 162 points weaker to 70.88 cents/lb. ICE certified stocks were 14k bales higher to 81,664 bales for 4/1.

May 24 Cotton  closed at 88.98, down 183 points,

Jul 24 Cotton  closed at 90.18, down 153 points,

Dec 24 Cotton  closed at 84.1, down 20 points