Cotton Market Into New Highs For Move

Overnight cotton trading has price 74 to 121 points higher to start the new week. Cotton futures closed the Friday session with 51 to 70 point gains. The dollar turned weaker on Friday and is down in early action this morning. After the close, CFTC released their weekly Commitment of Traders report. It showed a 6,862 contract increase to managed money’s net long - @ 59,942 as of 10/13. USDA reported 98,870 RBs of upland cotton sold in the week ending 10/8. That was 48% below the same week last year. Exports of 192,621 RBs brought the MY total to 2.505m RBs through the first 10 weeks of the MY. The Cotlook A index was firm at 74.50 cents/lb on the 15th. The week’s new AWP for cotton of 53.43 cents/lb. As the Adjusted World Price is above the $0.52 level, there is no need for an LDP this week.

--- 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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.