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Posts tagged cotton futures
December cotton settled higher on news that China was willing to return to Washington for new trade talks. A delegation is scheduled to arrive in this country late August, hopefully to work out details for an even larger trade meeting this fall. The news was initially taken as a market positive for cotton. After dropping […]
December cotton lost another 2% Wednesday as speculators liquidated their long positions, fearful of trade disruptions with Turkey and China. The economic stakes were raised on Tuesday when the Turkish government called for a boycott of U.S. goods. As of this writing, we have not seen cotton on any list, but it is that uncertainty […]
Recently, the sharp depreciation of Turkish Lira is highly discussed by the market participants, and in the meantime, U.S. announced to double steel and aluminum tariffs on Turkey, leading to panic mood on the market in short run. Turkey ranks second or third place on U.S. cotton export destinations, with yearly volumes of about 400kt. […]
By Jeff Thompson, Autauga Quality Cotton Association The USDA giveth and the USDA taketh away. The August WASDE report issued last Friday lacked the bullishness of the previous month’s report when we saw it produce a limit-up move in the market. Instead, U.S. production this month was raised from 18.5 million bales to 19.2 million […]
December cotton was sharply lower Monday as the fallout from Friday’s bearish supply-demand data and Turkish currency woes persist. Apparently, it took until Monday for the market to let the fact sink in that USDA actually raised the crop on Friday. The increase caught the analysts wholly off-guard as expectations suggested an additional 300,000 to […]
ICE Futures were sharply lower Friday as USDA surprised the trade with higher crop data. The 2018 crop was increased from 18.50 million to 19.20 million. The government increased beginning stocks 400,000 bales, increased the crop by 740,000 bales, but also increased exports by 500,000 bales. Thus, the net result, a carryout jump of 600,000 […]