A big on-call imbalance powered old-crop contracts. Overall mill unpriced sales neared all-time high. Less rain than expected earlier in the Texas Plains helped to lift new-crop prices. Premium widened on U.S. cotton in the Far East. Cert stocks declined 5,106 bales. Cotton futures surged to within roughly a cent of contract highs in old-crop […]
Scale mill fixations countered long liquidation. U.S. export commitments reached 109% of the USDA estimate and weekly shipments — though slower — remained above the pace needed to achieve the forecast. Cotton futures traded within tight ranges between slight losses and gains and finished on the plus side on light volume Thursday. July edged up […]
Talk circulated that a 176.6% preliminary anti-dumping tariff China imposed on U.S. sorghum might result in a planting shift to cotton. Traders will be on the lookout for any new cotton sales cancellations in the weekly export sales report. Cotton futures finished on slight losses for a third day Wednesday, with most-active July completing an […]
Prospects for rain in the droughty Southwest, expected to account for 61% of the projected U.S. upland acreage, weighed on market sentiment as July extended the prior-session reversal off a new five-week high. Cotton futures settled on slight losses Tuesday, with most-active July extending the prior-session reversal off a new five-week high. July closed down […]
Rain chances eyed for the droughty Texas Plains into Oklahoma and Kansas. Prolonged classing of 2017 crop continued as upland grading of 76,234 RB brought the season’s total to 19.486 million, up 21% from last season. Cotton futures settled on slight losses Monday amid improved chances for rain in droughty areas of the Southwest. Most-active […]
May reversed off new four-week high. Mills reduced their on-call sales in May by 7,212 lots to 15,947. Groundwater levels declined an average of 0.16 of a foot from 2017 to 2018 on the Texas High Plains. Cotton futures settled mixed Friday, with spot May reversing off a new four-week high to finish on a […]
Export commitments stand 16% above year-ago cumulative sales and 7% above USDA’s upwardly revised 2017-18 forecast. Robust shipments surged to the second largest of the marketing year. Hot, dry, windy conditions noted in the Texas Plains. Cotton futures ended mixed Thursday, down 41 to up 27 points, as traders digested U.S. weekly export data showing […]
Supportive U.S. export sales-shipments report expected. Minor changes in the global supply-demand balance sheet for 2017-18 included significant historical residual revisions for Brazil and Australia. Cotton futures pushed to a new four-week high and settled on modest gains Wednesday ahead of the U.S. weekly export sales-shipments report. Spot May closed up 30 points to 83.83 […]
Cotton futures finished higher on heavy volume Tuesday as traders digested relatively benign monthly supply-demand estimates from USDA. Spot May led the gains, settling up 62 points to 83.53 cents, just off the high of its 128-point range from down 60 points at 82.31 cents to up 68 points at 83.59 cents. It touched the […]
U.S. ending stocks expected to drop 350,000 bales to 5.15 million as exports rise. U.S.-China trade dispute viewed as unlikely to curb robust export demand. Slight decline projected in the world carryout. India’s 2017-18 production estimated up about 400,000 bales by FAS post. Cotton futures settled higher Monday but well off the highs of triple-digit […]
Steep Wall Street losses weighed on sentiment as trade war rhetoric reheated. Still no rain is foreseen in the Texas High Plains cotton area as a cold front approached. The U.S. Far East premium narrowed a bit. Cotton futures settled narrowly mixed Friday, chopping back and forth within the trading ranges established in the […]
A continued rebound in global stock markets lent support. U.S. export commitments widened the lead over year-ago cumulative sales to 2.298 million RB. Shipments topped the pace needed to make the estimate. Cotton futures surged to strong closing gains Thursday on another round of strong U.S. weekly export sales and shipments amid an easing of […]
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