Cotton futures are 30 to 44 points lower this morning after they posted losses of 64 to 98 points on Wednesday. The CRB Index shows that commodity prices in general are under pressure right here, and one with increased acreage and yield potential is not going to buck that trend. The Federal Reserve increased target short term interest rates 0.25% yesterday as was widely expected. Traders are expecting this morning’s USDA export sales report to improve over last week’s old crop sales of 82,700 RB. China sold another 18,500 MT of the 30,300 MT of cotton offered at an auction of state reserves. The AWP for this week is 68.03 cents/lb, and will be updated this afternoon.

Market Commentary provided by:

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