Producers finalized harvesting in some Rio Grande Valley counties. Cotton reaped benefits from recent rain in the Texas Plains. Hot, sunny weather needed in the Southeast and Delta, while excessive heat hit Arizona. Defoliation could begin Sept. 10 in the San Joaquin Valley.
Cotton futures closed on the plus side for the first time in six sessions in benchmark December in relatively subdued dealings Monday.
December closed up 82 points to 84.90 cents, in the middle of its 129-point range from up 17 points at 84.25 to up 146 points at 85.54 cents. It has edged above the prior-day high three sessions in a row.
October advanced 101 points to 85.25 cents and March rose 55 points to settle at 84.05 cents.
Volume slowed to an estimated 13,200 lots from 18,227 lots the previous session when spreads accounted for 4,708 lots or 26% and EFP for 105 lots. Options volume totaled 2,788 calls and 3,995 puts.
Producers have finalized harvesting in some counties in TexasΆ Rio Grande Valley, according to a weekly review by the cotton division of USDAΆs Agricultural Marketing Service.
Irrigated fields yielded around 3 to 3-1/4 bales per acre and dryland cotton about three-fourths of a bale. Producers prepared for a Sept. 1 stalk destruction deadline. Harvesting and ginning expanded in the Upper Coast and Winter Garden areas.
Cotton continued to advance and reaped benefits from recent rainfall in the West Texas Plains. Wells were pumping again and fields were watered as high temperatures returned to the 90s. Insect pressures were light, but producers monitored for hotspots. Weeds, especially glyphosate-resistant pigweed, were heavily monitored and actively managed.
In the Southeast, a period of hot, sunny weather was desperately needed. Coastal areas of South Alabama, the Florida Panhandle and South Georgia got rainfall accumulations of 5 to 7 inches, with heavier amounts in isolated areas. Cloudy skies reduced vitally needed heat units and square shedding was reported. Cool, wet weather prevailed in the Carolinas and Virginia.
Clear, cool conditions prevailed in the Delta, where daytime highs and lows were mostly in the low 80s and upper 60s in the north and the mid-80s and mid-60s in the south. Late-planted fields will need an extended period of warmer weather to finish with above-average yields in the North Delta, crop specialists said.
By contrast, excessive heat early in the reporting period for most of southern Arizona saw temperatures in the low to mid-110s, with a one-day high of 114. Widespread defoliation was active around Yuma. Producers in Parker waited for top bolls to mature. That area was hard hit by heat stress and producers hoped to gain some yield by finishing the top crop. Final irrigations were underway in Central Arizona.
More bolls cracked open in CaliforniaΆs San Joaquin Valley. Extension agents reminded producers to remain vigilant in managing whitefly and aphid infestations, especially while bolls are open, to prevent sticky cotton. Defoliation could begin around Sept. 10 in some of the earliest planted fields.
Futures open interest fell 3,913 lots Friday to 141,396, with DecemberΆs down 3,904 lots to 141,396 and MarchΆs down 48 lots to 34,131. Certificated stocks fell 5,591 bales to 28,896.
