Cotton Prices Gaining

Partaking in the broad crop rally on Thursday, front month cotton futures are trading 55 to 69 points in the black.

Cotton export bookings for the week that ended 4/15 were 145,848 RBs. That was split between 103k RBs for 2020/21 delivery and 42.7k RBs for NMY. China was the top buyer for the week, followed by Vietnam. They purchased 38,600 RBs and 22,600 RBs respectively. India was the top destination for the 328,979 RBs of exports, with 4,600 RBs.

USDA’s 4/21 DSQ reported only 431 bales sold, the approximate MYTD cash sales were up to 1.336 million bales. The Cotlook A index was 91.20 cents/lb for 4/21 back up by 40 points. USDA’s AWP for cotton is 68.16 cents/lb, and will be updated tomorrow.

May 21 Cotton  is at 85.52, up 69 points,

Jul 21 Cotton  is at 86.86, up 63 points,

Dec 21 Cotton  is at 84.31, up 62 points

Market Commentary provided by:

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