Cotton In The Red at Midday

Cotton futures are down 29 to 55 points at midday. Through the first few days of the new MY, cotton export commitments are 55% of the USDA export projection, vs. the 41% average. Last year at this time the 18/19 commitments were 63% of the projected total. The Cotlook A was unchanged on August 8 at 70.30 cents/lb. The weekly AWP is 52.67 cents/lb, down 4.29 cents from the previous week. Loan rate is 52 cents, below which cotton is eligible for LDP and MLG payments.

OCT 19 Cotton is at 59.11, down 43 points,

DEC 19 Cotton is at 59.03, down 55 points

MAR 20 Cotton is at 60, down 42 points

MAY 20 Cotton is at 61.24, down 26 points

--provided by Brugler Marketing & Management

Market Commentary provided by:

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