AgriCharts Market Commentary

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Cotton

Cotton futures posted sharp losses in most contracts on Tuesday, with nearby July down the limit. Wednesday will have expanded limits of 500 points. Selling pressure was from Monday’s fresh news on the trade conflict front that President Trump is threatening another round of tariffs on Chinese goods. The US dollar index was also 250 points higher on the day. Monday’s conditions ratings report showed TX was down 18 points to 273, with GA up 3 points. The Cotlook A index was down 260 points from day prior at 98.85 cents/lb on June 18. The weekly AWP was updated to 82.99 cents/lb for this week, good through Thursday.

Jul 18 Cotton closed at 83.320, down 400 points,

Oct 18 Cotton closed at 84.820, down 384 points

Dec 18 Cotton closed at 83.820, down 395 points

Cotton

Cotton futures are trading sharply lower in most contracts on Tuesday, nearing the limit in July. President Trump added fuel to the tit for tat trade conflict by indicating he is contemplating another 10% tariff on $200 billion of Chinese goods. This is in response to China's retaliatory tariffs on Friday. Conditions were down 4% to 38% gd/ex. The Brugler500 was down another 10 to 312 points. Ratings in TX were down 18 points to 273, with GA up 3 points. The Cotlook A index was down 260 points from day prior at 98.85 cents/lb on June 18. The weekly AWP was updated to 82.99 cents/lb for this week, good through Thursday.

Jul 18 Cotton is at 83.42, down 390 points,

Oct 18 Cotton is at 85, down 366 points

Dec 18 Cotton is at 84.09, down 368 points

Mar 19 Cotton is at 84.100, down 360 points

Cotton

Cotton futures are down another 224 to 320 points on Tuesday Morning. This comes after posting another round of sharp losses on Monday, down 208 to 340 points. President Trump added fuel to the tit for tat trade war by indicating he is thinking about another 10% tariff on $200 billion of Chinese goods. This is in response to China's retaliatory tariffs on Friday. Trade issues and Specs taking profits added to the selling pressure. Monday afternoon’s NASS Crop Progress report showed 22% of the US cotton crop was squared as of Sunday, vs. the average at 17%. Conditions were down 4% to 38% gd/ex. The Brugler500 was down another 10 to 312 points. The Cotlook A index was UNCH from day prior at 101.45 cents/lb on June 15. The weekly AWP was updated to 82.99 cents/lb for this week, good through Thursday.

Cotton

Cotton futures posted another round of sharp losses on Monday, down 208 to 340 points. Areas in the Texas High Plains received rains over the weekend, which were much needed for that region. Trade issues and Specs taking profits added to the selling pressure. This afternoon’s NASS Crop Progress report showed 22% of the US cotton crop was squared as of Sunday, vs. the average at 17%. Conditions were down 4% to 38% gd/ex. The Brugler500 was down another 10 to 312 points. The Cotlook A index was UNCH from day prior at 101.45 cents/lb on June 15. The weekly AWP was updated to 82.99 cents/lb for this week, good through Thursday.

Jul 18 Cotton closed at 87.320, down 340 points,

Oct 18 Cotton closed at 88.660, down 262 points

Dec 18 Cotton closed at 87.770, down 208 points

Cotton

Cotton futures are posting another round of sharp losses on Monday, with nearby July down 252 points. Areas in the Texas High Plains received rains over the weekend, which were much needed for that region. Trade issues and Specs taking profits are adding to the selling pressure. Nearby July was down 4.44% on the week. The Cotlook A index was UNCH from day prior at 101.45 cents/lb on June 15. The weekly AWP was updated to 82.99 cents/lb for this week, good through Thursday. Friday’s CFTC data showed managed money trimming the cotton net long position by 788 contracts to a net position of 88,911 contracts as of Tuesday.

Jul 18 Cotton is at 88.2, down 252 points,

Oct 18 Cotton is at 89.69, down 159 points

Dec 18 Cotton is at 88.24, down 161 points

Mar 19 Cotton is at 88.040, down 172 points


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
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E-mail: alanb@bruglermktg.com
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