Cotton

Cotton futures settled with most contracts steady to 31 points higher, as front month July was lower ahead of Thursday’s options expiration. The FOMC raised their short term interest rate target again this afternoon by 1/4% (now at 2%), and are expecting 2 more hikes in 2018. Informa put their expected 2018 cotton acreage at 14.137 million acres this morning, compared to 13.469 in the March USDA report. USDA increased their cash average farm price by 5 cents on each end of the range to 60-80 cents/lb yesterday, with the mid-point at 70 cents. The Cotlook A index was down 70 points from the previous day at 100.65 cents/lb on June 12. The current AWP of 81.27 cents/lb will be updated on Thursday.

Jul 18 Cotton closed at 93.810, down 140 points,

Oct 18 Cotton closed at 93.940, up 31 points

Dec 18 Cotton closed at 92.930, up 3 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
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.