Cotton Firm Ends in Black

Cotton ended the Wednesday trade session with gains limited to 5 points. Futures did post new highs, which for Dec was just a point off the Jan 22 high. USDA’s Daily Spot Quotations report said 3,823 bales were sold at spot on Wednesday at 9 points better 65.79 cents/lb. The Cotlook A index was up another 140 points to 76.80 cents/lb on 10/20. The trade spat between China and Australia, which began in barley, has moved to cotton as China told importers to source cotton elsewhere. There has been no official ban or tariff imposed, but the verbal commands apply to both cotton and coal from Australia. The AWP for cotton is 53.43 cents/lb, through tomorrow.

Dec 20 Cotton closed at 71.04, up 2 points,

Mar 21 Cotton closed at 71.73, up 3 points

May 21 Cotton closed at 72.34, up 5 points

Jul 21 Cotton closed at 72.81, up 3 points

--- provided by Brugler Marketing & Management

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