Cotton Spikes Triple Digits

Monday cotton trading has front month futures 128 to 153 points higher. Heavy rains and high winds from Hurricane Delta have damaged some of the Southeast crop, as most bolls are expected open at this point. The Crop Progress report will be delayed until Tuesday in recognition for Columbus Day. USDA’s 2020/21 cotton production is 17.05 million bales. The average yield was down 1 at 909 lbs per acre. CFTC’s Weekly data release showed cotton spec traders were 53,080 contracts net long on October 6. That was up 1,952 contracts from last week’s net long. The Cotlook A index stayed at 72.95 cents/lb for October 9. The AWP for cotton is 51.48 cents/lb, with an 0.52 cent LDP.

Dec 20 Cotton is at 69.01, up 137 points,

Mar 21 Cotton is at 69.78, up 136 points

May 21 Cotton is at 70.43, up 131 points

Jul 21 Cotton is at 71.14, up 153 points

--- provided by Brugler Marketing & Management

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