Alan Brugler - Barchart
Thu Mar 30,
Ahead of the Prospective Plantings report the cotton market rallied 56 to 89 points. December futures stayed in a 131 point range for the day.
Weekly cotton bookings were reported at 281,281 RBs for the week that ended 3/23. That was down from 310k last week but was 20% above the same week last year. China was the week’s top buyer with 85k RBs of the total. USDA reported cotton exports at 341k RBs for the week, bringing the season’s total to 6.562 million.
The Cotlook A Index for 3/29 was 265 points higher to 96.50 cents/lb. USDA’s FSA raised their AWP for cotton by 151 points to 67.84 cents/lb. May 23 Cotton closed at 83.5, up 74 points, Jul 23 Cotton closed at 83.87, up 67 points, Dec 23 Cotton closed at 83.88, up 63 points. (Source: Barchart.com)