Cotton Futures Tumble Triple Digits

Cotton futures are following the ag complex lower through midday trading with 123 to 243 point drops. The weekly Export Sales data release showed 247,813 RBs sold on the week ending 2/18. That was more than double last week and up 5% yr/yr. New crop bookings were reported at 40,726 RBs bringing the total forward book to 1.156m RBs. USDA’s Daily Spot Quotations report showed 3,309 bales sold via the 2/24 report. USDA maintained the -4.89 cent basis. The Cotlook A index for 2/24 was 97.6 cents/lb, up another quarter cent. The week’s AWP for cotton is 73.13 cents/lb, but will be updated this afternoon. ICE certified stocks are still at 100,326 bales through 2/23.

Mar 21 Cotton is at 89.9, down 243 points,
May 21 Cotton is at 91.61, down 208 points
Jul 21 Cotton is at 92.39, down 194 points
Dec 21 Cotton is at 86.43, down 123 points

--- provided by Brugler Marketing & Management

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