Cotton futures are currently showing triple digit gains in the nearby contracts at midday. The Export Sales report showed 383,926 RB in old crop sales for the week that ended 3/1. That was 30% larger than the previous week and 54.23% above last year. New crop sales were a MY high of 252,120 RB. The USDA updated their US supply and demand table this morning showing a reduction of 500,000 bales in ending stocks to 5.5 million bales. That came from a slight cut in production and an increase in exports. The March Cotton Ginning’s report showed that 910,350 RB were ginned since the past report. That brought the total for the year to 19.599 million RB. The Cotlook A index dropped 270 points lower from the previous day on March 7 at 91.90 cents/lb. The Adjusted World Price (AWP) will be updated later today.

May 18 Cotton is at 84.48, up 162 points,

Jul 18 Cotton is at 83.92, up 137 points

Dec 18 Cotton is at 78.340, up 29 points

Market Commentary provided by:

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