Cotton Market Adds to Gains

Front month cotton futures closed the midweek with a third green candle. Dec futures are 1.9 cents/lb higher than the start of the week. The impending Hurricane Delta, projected to make landfall by Saturday, is adding some risk premium to the crops in those fields. August Census data showed the first month for 2020/21 cotton shipments was 1.424m bales. The Daily Spot Cotton Quotations report from USDA showed 10,646 bales sold at spot on Wednesday. The average price was 61.95 cents/lb. Tuesday sales on The Seam were 6,553 bales at an average price of 58.90 cents/lb. The Cotlook A index for 10/06 was 25 points higher to 71.55 cents/lb. The Adjusted World Price for cotton is 50.67 cents/lb, with a 1.33 cent LDP. Both will be updated tomorrow after the close.

Oct 20 Cotton closed at 66.29, up 73 points,

Dec 20 Cotton closed at 67.59, up 73 points

Mar 21 Cotton closed at 68.35, up 63 points

May 21 Cotton closed at 68.95, up 63 points

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.