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Orders vs exports

Still, the 39% surge year on year in US cotton export commitments to 9.81m running bales, upland and pima combined, is not quite what it seems.

Actual exports are down 40% year on year at 2.15m running bales, with upland cotton volumes of 85,600 running bales last week the lowest of the marketing year, which started in August, and indeed the lowest since January 2016.

Will the orders turn into actual shipments?

Even with Black Friday bargains, US cotton exporters may be wise not to spend their profits before they are banked.