Cotton Trades Higher

March cotton futures are UNCH with preliminary OI showing just 52 contracts open as of 2/23. There were 8 new delivery notices against March contracts with Wells Fargo stopping them. MTD deliveries is 41 contracts, all issued via Term Commodities. The other old crop contracts are 53 and 57 points higher. New crop futures are 48 cents in the black. Crude oil futures also continue higher. USDA’s Daily Spot Quotations report showed 1,448 bales sold via the 2/23 report. The Cotlook A index was a stark 175 points higher on Feb 23, up to 97.35 cents. The week’s AWP for cotton is 73.13 cents/lb., in effect through Thursday. ICE certified stocks are still at 100,326 bales through 2/22.

Mar 21 Cotton is at 91.37, unch
May 21 Cotton is at 93.23, up 56 points
Jul 21 Cotton is at 93.82, up 49 points
Dec 21 Cotton is at 87.23, up 48 points

--- provided by Brugler Marketing & Management

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