Alan Brugler -Barchart

Thu Mar 16,

Thursday’s cotton trade saw losses across the front months, with new crop closing 32 to 60 points in the red. May was the exception, ending the day with a 5 point gain. May saw a wide 232 point range on the day. 

The latest CFTC data, as of 3/7’s settlement, had managed money traders 2,902 contracts net short. That was a lighter net short than the week prior as 2.6k shorts were closed through the week and 1.5k new spec longs were added. At the time, commercial cotton hedgers were 32,705 contracts net short – a 2,542 stronger net short than the week prior. 

USDA’s weekly Export Sales report showed 225,535 RBs of cotton were sold during the week that ended 3/9. That was nearly double last week, but still 39% below the same week last year. Vietnam was the top buyer for the week with over half of the total. Cotton exports were marked at 274k RBs to bring the season’s total to 5.948 million. That is 1.7% ahead of last year’s pace. 

The Cotlook A Index was another 25 points higher to 95.80 cents/lb for 3/15. The Seam reported 4,451 bales sold on March 14th at an average price of 74.07 cents/lb, down 46 points from the previous day. The USDA’s FSA lowered the AWP for cotton by 337 points to 68.58 cents/lb. 

May 23 Cotton  closed at 79.16, up 5 points, Jul 23 Cotton  closed at 79.7, down 11 points, Dec 23 Cotton  closed at 80.63, down 32 points. (Source: