Cotton Market 23 Lower to 31 Higher This Morning
BRUG - Mon Sep 16, 7:30AM CDT

Cotton futures are trading 23 lower to 31 higher this morning. They closed Friday with 7 to 20 point gains in the front months other than the thinly traded Oct (down 49 points). Dec gained 6.32% for the week. Crude oil and diesel futures are up sharply this morning (diesel up 16 cents per gallon) following damaging drone attacks on Saudi facilities over the weekend. CFTC data showed specs trimming their net short position to 34,564 contracts by trimming 4,717 contracts in the week ending 9/10. On Thursday, USDA raised estimated world carryout for 18/19 by 1.3 to 83.75 MMT. Chinese imports were reduced by 0.5 MMT to 10 MMT and Australian production was down 0.5 MMT to 1.4 MMT. The Cotlook A Index was unch on September 12 at 70.90 cents/lb. The weekly AWP is 52.28, effective through next Thursday.

-- provided by Brugler Marketing & Management




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