Cotton Futures Up on Exports, Inflation Plays

Cotton futures are mostly 32 to 52 points higher early in the Wednesday session. At the Tuesday close, front month cotton futures were 14 to 69 points in the red. Dec futures were the firmest, narrowing the inverse to July by 55 points to 2.11 cents.

Census data showed US March cotton shipments were 1.637m bales. That was up 4% from February, but down from 2.003 million bales in March 2020. Accumulated cotton shipments were 11.12m bales which remains at record pace for the marketing year. The previous record was 10.75m bales through March during the 2010/11 campaign.

USDA’s 5/2 DSQ showed 892 bales were sold at spot, mostly in the N. Delta. The 4/30 Cotlook A index was down by another 3 cents to 91.90 cents/lb. The AWP for cotton for the week is 73.71 cents/lb.     

Jul 21 Cotton  closed at 87.17, down 69 points, and back up 32 this morning in thin trade

Oct 21 Cotton  closed at 86.67, down 35 points, and up 4 in thin trade

Dec 21 Cotton  closed at 85.06, down 14 points, and up 52 cents this morning

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