Cotton Mostly Lower Ahead of July 4th

Cotton futures saw traders taking money off the table ahead of the July 4th Holiday, with contracts up 3 points in March but slightly lower in most other contracts. A Bloomberg report said China was considering purchasing US ag goods as a good will gesture, though cotton was not mentioned specifically. May trade data was released by Census this morning, with cotton exports shown at 1.831 million bales for the month. That was a 8.23% drop from last year’s record but up 4.12% from April. The markets will be closed on Thursday, with the USDA Export Sales report pushed back to Friday by the July 4th holiday. The Cotlook A index for July 2 was UNCH from the previous day at 77.60 cents/lb. The USDA AWP is 58.32 cents/lb through Thursday.

OCT 19 Cotton closed at 66.5, down 7 points

DEC 19 Cotton closed at 67.23, down 6 points

MAR 20 Cotton closed at 68.13, up 3 points

--provided by Brugler Marketing & Management

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