After digesting the report from Wednesday, front month cotton futures are down more than half the limit. Old crop prices are 286 to 293 points in the red, while new crop futures are trading 211 to 228 points lower.   

USDA’s weekly export sales report showed 78,377 RBs of cotton booked on the week that ended 3/25. That was a MY low, as Indonesia canceled 119,500 RBs. Accumulated cotton commitments for the MY are now at 14.577m RBs. 41,380 RBs were sold on the week for 2021/22 delivery, bringing the total forward book to 1.543m RBs.  

USDA’s Daily Spot Quotations report cited 1,303 bales were sold in the 3/31 release. The Cotlook A index for 3/31 was 20 points higher at 87.40 cents/lb. USDA’s AWP for cotton to 68.55 cents/lb, and will be updated after the close.

May 21 Cotton  is at 77.95, down 293 points,

Jul 21 Cotton  is at 79.31, down 286 points,

Dec 21 Cotton  is at 77.99, down 211 points