Cotton

Cotton futures posted limit losses in the nearby contracts. There will be expanded limits tomorrow. The USDA raised the 2017 US cotton yield 16 lbs/ac to 902 lbs/ac in this morning’s supply and demand report. Average yields were raised in all states except CA, AR and GA. US 2017 production rose 1.21 million bales to 21.76 bales. US new crop ending stocks rose 0.2 million bales to 6 million bales. World ending stocks for 2017/18 jumped 2.45 million bales to 92.54 million bales. India, Brazil, and Australian production was raised along with the US. The Cotlook A index for September 11 was35 points higher at 84.4 cents/lb.

Oct 17 Cotton closed at 70.710, down 300 points,

Dec 17 Cotton closed at 69.110, down 300 points

May 18 Cotton closed at 69.060, down 270 points




Market Commentary provided by:

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