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Cotton Backing Off into MiddayFriday’s cotton trade has the board sitting 7 to 30 points in the red. May is now down by more than 2c for the week’s move. Export Sales data from the week that ended 3/14 showed 92,620 RBs of old crop cotton and 40.5k RBs of new crop was sold during the week that ended 3/14. That brought old crop commitments to 10.71m RBs, a 4% lag from last year’s pace, and new crop commitments to 99.5k RBs, still 27% behind last year's pace. The Cotlook A Index for 3/21 was 85 points lower to 97 cents flat. The AWP was revised 360 points lower to 72.50 cents per pound, in effect for farm program purposes through next Thursday. ICE certified stocks were shown at 41,756 bales as of 3/20. May 24 Cotton is at 91.91, down 30 points, Jul 24 Cotton is at 92.16, down 10 points, Dec 24 Cotton is at 83.84, down 8 points On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. |
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