Nearby futures are again printing a wide trading range intra day, as May has been from -168 to +64 so far. At midday the board is 23 to 135 points in the red, with futures ~30 points off their lows. 

NOAA’s updated 7-day QPF shows rainfall for the TX Gulf and AR/N. MS. Most of the Southeast can expect at east ¾ of an inch, with the heaviest accumulations through the week near 3”. 

Weekly Export Sales data had 85,845 RBs of cotton booked for the week that ended 3/7. That was up 65% for the week, but marked the 3rd consecutive sub-100k RBs week. Shipments were listed at 292,282 RBs for a running total of 5.97 million. Shipments at the same time last year were 5.95 million RBs. Commitments remain 2.3% behind last year’s pace compared to the WASDE forecasted 3.7% yr/yr export decline. 

The Cotlook A Index fell 100 points to $1.00 02/100 /lb on 3/13. The Seam reported 8,510 bales sold online on 3/7 with an average gross price of 87.17 cents. The AWP is 76.88 cents/lb, in effect through Thursday. ICE certified stocks were listed at 26,665 bales as of 3/12. 

May 24 Cotton  is at 93.59, down 131 points,

Jul 24 Cotton  is at 93.31, down 103 points,

Dec 24 Cotton  is at 83.38, down 58 points