AgriCharts Market Commentary

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Cotton

Cotton futures posted losses of 175 to 233 points in most contracts on Wednesday. Crude oil was down $2.13/barrel on the day. Friction with Turkey is also causing pressure. Weekly export sales will be updated tomorrow, with the first full week in the 18/19 MY being shown. Carry over from last year puts total export commitments already 38.7% larger than a year ago as of last week’s report, with 19/20 commitments at 1.328 million RB. The Cotlook A index was down another 250 points from the previous day at 92.75 cents/lb on August 14. The weekly AWP, currently at 79.67 cents/lb, will be updated on Thursday afternoon.

Oct 18 Cotton closed at 81.080, down 233 points,

Dec 18 Cotton closed at 80.740, down 230 points

Mar 19 Cotton closed at 81.040, down 210 points

Cotton

Cotton futures are trading 180 to 220 points in the red at midday. Crude oil is currently $2.10/barrel lower on the day, pressuring the market. Weekly export sales will be updated tomorrow, with the first full week in the 18/19 MY being shown. Carry over from last year puts total export commitments already 38.7% larger than a year ago as of last week’s report, with 19/20 commitments at 1.328 million RB. The Cotlook A index was down another 250 points from the previous day at 92.75 cents/lb on August 14. The weekly AWP, currently at 79.67 cents/lb, will be updated on Thursday afternoon.

Oct 18 Cotton is at 81.21, down 220 points,

Dec 18 Cotton is at 80.89, down 215 points

Mar 19 Cotton is at 81.16, down 198 points

May 19 Cotton is at 81.600, down 182 points

Cotton

Cotton futures are trading 44 to 67 points lower today. They went home 6 points lower to 28 points higher on Tuesday. Monday’s Crop Progress report showed 17% of the Texas cotton crop’s bolls were opening as of Sunday, with the average at 12%. Condition ratings in TX fell another 9 points to 248, with GA down 5 at 369. Last week’s first Cotton Ginnings report of the 18/19 MY from the USDA showed 19,600 RB had been ginned as of August 1. Those were all in Texas, and just 18.29% of the August report last eyar. The Cotlook A index was down a sharp 205 points from the previous day at 95.25 cents/lb on August 13.

Cotton

Cotton futures went home 6 points lower to 28 points higher. Monday’s Crop Progress report showed 17% of the Texas cotton crop’s bolls were opening as of Sunday, with the average at 12%. Condition ratings in TX fell another 9 points to 248, with GA down 5 at 369. Last week’s first Cotton Ginnings report of the 18/19 MY from the USDA showed 19,600 RB had been ginned as of August 1. Those were all in Texas, and just 18.29% of the August report last year. The Cotlook A index was down a sharp 205 points from the previous day at 95.25 cents/lb on August 13.

Oct 18 Cotton closed at 83.410, up 27 points,

Dec 18 Cotton closed at 83.040, up 28 points

Mar 19 Cotton closed at 83.140, down 6 points

Cotton

Cotton futures are mostly steady to 24 points higher in the front months today, with deferred contracts 18 to 30 points lower. Monday’s Crop Progress report showed that 77% of the US cotton crop was setting bolls as of Sunday, with 13% of the crop showing those bolls opening. Cotton progress in TX showed 17% of the crop’s bolls were opening as of Sunday, with the average at 12%. The good/excellent condition categories were UNCH at 40%, with the Brugler500 Index down 5 points to 300 on an increase in the very poor ratings. Condition ratings in TX fell another 9 points to 248, with GA down 5 at 369. The Cotlook A index was down a sharp 205 points from the previous day at 95.25 cents/lb on August 13.

Oct 18 Cotton is at 83.35, up 21 points,

Dec 18 Cotton is at 83, up 24 points

Mar 19 Cotton is at 83.21, up 1 point

May 19 Cotton is at 83.510, down 19 points


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
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