Cotton in Red at Midday

Cotton trading has futures 7 to 54 points lower at midday. The remnants of Hurricane Sally are moving eastward through AL, GA and eventually SC. The slow moving storm is resulting in heavy rains and flooding. Cotton bookings from the week ending September 10 were 519.6k RBs. That was 410% increase wk/wk and 611% above the same week last year, and the largest for any week since the week ending Jan 22 of 2015. China purchased 85% of the total with 440k. Cotton commitments to China are 37% of the total with 3.07m RBs and 7.63m RBs respectively. Chinese State Planning announced intentions to maintain the 894k MT TRQ for 2021 cotton imports. The Cotlook A index for Sept 16 fell back 45 points to 71.65 cents/lb. The AWP for cotton is 49.77 cents/lb, with a 2.23 cent LDP, both will be updated after the close.

Oct 20 Cotton is at 64.43, down 54 points,

Dec 20 Cotton is at 66.08, down 29 points,

Mar 21 Cotton is at 66.9, down 28 points

May 21 Cotton is at 67.58, down 22 points

--- provided by Brugler Marketing & Management




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