Classing reached 1.333 million RB, including 1.21 million at Corpus. Some aflatoxin found in cottonseed. Plants reported shutting down in the Plains. Defoliation expanded rapidly in the Southeast. North Delta crop made excellent progress. South Delta harvest rushed. Ginning began in Central Arizona. Stalks shredded in the San Joaquin Valley.
Cotton futures finished a lightly traded session on fractional gains Monday, remaining within the inside range established by early morning.
December settled up 11 points to 68.95 cents, near the high of its 102-point range from down 79 points at 68.05 cents to up 23 points at 69.07 cents. March closed up 13 points to 68.42 cents, just off the high of its 104-point range from 67.44 to 68.48 cents.
Heavy rains in parts of the Southeast with the passage of Tropical Storm Nate and concerns about cold temperatures expected with the passage of a dry cold front on the Texas High Plains may have lent support.
Volume slowed to 15,492 lots from 18,511 lots the previous session when spreads accounted for 7,957 lots or 43%, EFP 355 lots and EFS 65 lots. Fifty-five of the EFP lots were on the now-matured October contract. Options volume declined to 2,496 lots (1,533 calls and 963 puts puts) from 9,100 lots (4,577 calls and 4,527 puts).
U.S. upland cotton classing rose to 287,891 running bales during the week ended Thursday from 122,869 RB the previous week, boosting the total for the season to 1.333 million RB, according to the latest weekly report by USDA’s Agricultural Marketing Service.
That compares with 1.28 million RB classed through the corresponding period last season. Tenderable cotton slipped to 77.2% for the week from 78.6%, but at 84.6% for the season still was up from 71.1% a year ago.
The Corpus Christi facility has graded 1.21 million RB for Texas producers. Ginning continued in eastern Texas. Soggy conditions interfered with transporting modules from fields to gin yards. Some aflatoxin was present in cottonseed, caused by the moist conditions. Cottonseed prices were reported at $90 to $150 per ton.
Rainy, overcast conditions slowed plant progress and fieldwork in the West Texas Plains. Natural senescence (aging) was observed in many fields as plants began to shut down, changing color and dropping leaves under cool temperatures and a lack of sunshine. A period of warm, sunny weather was needed to maximize yield potentials and dry soggy fields.
Many fields in the High and Rolling Plains are showing browning or bronzing of foliage, often accompanied by premature defoliation, commonly associated with several leaf spots, extension specialists have reported.
Different species of fungi have been found to cause those leaf spots. However, non-pathogenic stresses are the predominant problem in these fields, the specialists say, and the fungal leaf spots are secondary. The fungi probably hasten defoliation but aren’t likely the main problem.
Details are discussed in a report by Tom Isakeit and Jason Woodward, plant pathologists, and Jason Morgan, extension cotton agronomist. Woodward is based at Lubbock and Isakeit and Morgan at College Station.
Defoliation expanded rapidly under ideal conditions across the Southeast and harvesting increased in Georgia and South Carolina. In Georgia, producers continued to treat whitefly infestations in fields that hadn’t been defoliated. Some fields in Alabama remained a few weeks behind in maturity owing to earlier wet, cool conditions. Bolls were cracking open, but blooms remained on the tops of plants in many fields.
The North Delta crop made excellent progress under above-average temperatures. Defoliation gained momentum and harvesting advanced at a steady pace. Producers in the South Delta rushed to get as much cotton off the stalk as possible ahead of more rain. They reported the quality of some cotton had been negatively affected by rain over the past several weeks but particularly by heavy rain and cloudy skies in August.
In the Desert Southwest, ginning continued uninterrupted at Yuma and began in Central Arizona. Stalks shredded in the San Joaquin Valley in compliance with the pink bollworm program.
Futures open interest rose by 396 lots to 229,974 on Friday, with December’s down 726 lots to 128,439 and March’s up 799 lots to 69,328. Certified stocks increased a single bale to 5,445.
Source: Agfax