Alan Brugler - Barchart
Tue Nov 29,
Front month cotton futures reversed higher on Tuesday, up by 117 to 166 points. That has the March contract at a net 43 point gain for the week.
USDA’s Attache sees Mexico’s cotton crop reaching 1.46m bales, compared to the official 1.4m bale estimate. Domestic use was also raised, reducing their export idea by 100k to 400k bales.
The Cotlook A Index for 11/28 was 265 points lower to 98.70 cents/lb. The AWP for the week was 317 points lower to 74.61 cents. ICE certified stocks were 8,901 bales on 11/28.