Monday cotton closed 21 to 31 points higher. There were 20 deliveries against October futures MTD through Friday, and preliminary OI was down to 70 contracts as of Friday. NASS said tonight that 83% of the 2020/21 cotton has open bolls, compared to the 5-yr average of 75%. Harvest for this season’s crop was up 4 percentage points from last week to 17% complete. The 5-yr average is 20% harvested. Crop conditions were 5 points lower wk/wk to 311 on the Brugler500 index. OK fell the most on the week, dropping 18 points to 344. GA and KS ratings were also sharply lower falling 12 and 11 points respectively. The Cotlook A index for 10/02 was firm at 71.30 cents/lb. The week’s AWP for cotton is 50.67 cents/lb. The LDP is 1.33 cents through Thursday.
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Dec 20 Cotton closed at 66.03, up 21 points, |
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Mar 21 Cotton closed at 66.92, up 29 points |
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May 21 Cotton closed at 67.58, up 31 points |
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Jul 21 Cotton closed at 68.08, up 24 points |
--- provided by Brugler Marketing & Management
