Planting advanced in lower Southeast. Some Delta producers faced replanting. Thrips, aphids observed in Rio Grande Valley. Pinhead squares sighted in Arizona. Heat pushed San Joaquin cotton.
Cotton futures finished mixed Monday, with spot July trading on the plus side throughout the day and settling modestly ahead to register the only gain.
July closed up 37 points to 60.99 cents, just below the midpoint of its 90-point range from unchanged at 60.62 cents to up 90 points at 61.52 cents. It set the low in the earl minutes of the overnight session and the high around 6:20 a.m. CDT.
December settled off three ticks to 60.48 cents, near the low of its 75-point range from down 15 points 60.36 to up 60 points at 61.11 cents. It slumped in the late going to match the low posted on the opening overnight and closed on a loss, though marginally, for the sixth consecutive session and ninth in the last 10.
Volume was estimated at 21,142 lots, compared with 21,075 lots the previous session when spreads accounted for 5,866 lots or 28%. Options volume totaled 5,957 calls and 4,048 puts.
Planting advanced at a rapid pace across the lower Southeast during the week ended Thursday, USDAΆs Agricultural Marketing Service reported Friday in a weekly cotton review.
Producers scouted fields where seedlings were emerging and monitored damage from thrips and, in lesser prevalence, from grasshoppers. Fields were treated where warranted.
Saturated fields have limited outside activities and had delayed planting across upper North Carolina and Virginia. Producers attempted to complete fieldwork in accessible fields ahead of additional wet weather.
Outdoor activities were largely unaffected by a few light showers in the Delta. Producers reported that replanting of some early planted fields would be required in several areas where excessive rains — in some cases up to 6 inches — had fallen. Insect pressure, especially from thrips, was being carefully monitored.
Pest management was underway in southern Texas and the Rio Grande Valley. Thrips and aphids were observed and attention was turning to fleahoppers. Beneficial insects were noted. Stands progressed as expected under sunny skies.
Heavy rainstorms in the Texas Blackland Prairies continued to saturate fields and slow planting progress. Weed management increased. Treatments were applied to control thrips.
In West Texas, heavy thunderstorms stretching from northeast of Lubbock to around Abilene and San Angelo halted fieldwork and flooded low-lying fields. Wind gusts up to 50 miles per hour caused erosion and further dried already parched fields in some areas around Lubbock ahead of some heavy weekend rains. Planting increased on irrigated acres.
The crop made excellent progress in Arizona. Accumulated heat units were seven to 10 days ahead of normal, according to the Arizona Extension Service. Insect pressures were minimal. Pinhead squares were sighted in the earliest fields. Planting neared completion.
Unseasonably warm temperatures returned late in the period in the San Joaquin Valley, advancing the crop. Damage assessments continued in some fields damaged by hail during the previous reporting period. The Sierra Nevada snowpack was 55% of average, the California Department of Water Resources said.
Futures open interest declined 548 lots to 189,151, with JulyΆs down 63 lots to 100,784 and DecemberΆs up 697 lots to 71,908. Cert stocks grew 6,675 bales to 81,300. Awaiting review were 81,300 bales at Memphis.
