The cotton market pushed lower on Thursday with triple digit losses for the old crop contracts. May futures saw a 234 point range on the day from -170 to +64 so far. New crop cotton was also weaker though losses were limited to 53 points. OI in Dec is still building, but remains below the July contract.  

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 updated AWP is 76.10 cents/lb, down by 68 points from last week. ICE certified stocks added another 1,100 bales to 27,765 as of 3/13. 

May 24 Cotton  closed at 93.48, down 142 points,

Jul 24 Cotton  closed at 93.26, down 108 points,

Dec 24 Cotton  closed at 83.43, down 53 points