Cotton Rebounding at Midday

Following the limit losses, cotton futures are back up by 214 to 254 points, with new crop the stronger. Expanded limits for today’s round is a full nickel/lb. For April contracts, yesterday’s limit loss left prices at the lowest level for the calendar year, pushing the board back to late December’s price levels.

The weekly Export Sales data release from USDA showed 271,194 RBs with 313,514 RBs shipped. That brought the accumulated export to 9.146m RBs, maintaining the record pace.

USDA’s 3/25 DSQ report showed just 279 bales were sold at spot. The Cotlook A index for March 25 was down another penny to 88.50 cents/lb. USDA’s FSA lowered the AWP for cotton by 2.9 cents to 68.55 cents/lb.

May 21 Cotton  is at 80.67, up 223 points,

Jul 21 Cotton  is at 81.66, up 214 points,

Dec 21 Cotton  is at 79.09, up 254 points




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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