Cotton Gaining Through Midday

Through midday on Wednesday, front month cotton futures are up 39 to 96 points. Old crop futures are the strongest, adding to the old/new crop inverse. As of midday, the May Dec spread favors spot prices by 1.09 cents/lb.

Cotton sales reported on The Seam were 1,900 bales for an average price of 51.24 c/lb on 4/19. USDA’s 4/20 DSQ reported 1,674 bales sold, and left basis at -4.18 cents/lb. The MYTD spot sales were up to 1.33m bales. The Cotlook A index was 90.80 cents/lb for 4/20 after dropping another 20 points. USDA’s AWP for cotton is 68.16 cents/lb, good through Thursday.

May 21 Cotton  is at 84.57, up 80 points,

Jul 21 Cotton  is at 85.93, up 76 points,

Dec 21 Cotton  is at 83.48, up 42 points

Market Commentary provided by:

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