Cotton Market Improves on Dryer Weather and Decent Export Data

Cotton futures settled up 44 to 85 points on Thursday. The weekly Drought Monitor shows dryness expanding in a good part of TX, with some severe drought starting to pop up. This morning’s Export Sales report from USDA showed 179,505 RB of 19/20 upland cotton sold in the week of August 1, with China buying 60,123 RB. For 20/21, 79,794 running bales were sold for export, bringing the accumulated total to 288,181 RB. Total shipments in the final 6 days of the 18/19 MY were 272,709 RB, with 72,798 RB shipped so far for 19/20. The Cotlook A index was up 30 points on August 7 at 70.30 cents/lb. The weekly AWP was updated to 52.67 cents/lb, down 4.29 cents from the previous week.

OCT 19 Cotton closed at 59.43, up 85 points,

DEC 19 Cotton closed at 59.65, up 82 points

MAR 20 Cotton closed at 60.45, up 56 points

MAY 20 Cotton closed at 61.57, up 44 points

--provided by Brugler Marketing & Management




Market Commentary provided by:

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