Cotton #2 Futures PricesFri, Oct 31st, 2014
Latest Brugler Cotton #2 Report
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Cotton futures are trading 50 to 75 points lower this morning. The 3 day surge in the US dollar index is doing more damage to export demand ideas. The dollar is at the highest level since 2010, which makes imports cheaper but exports more expensive in 3rd party currency terms. Total US export commitments as a % of total projected annual exports are at 63% vs. the 5yr average of 56%. Cert stocks are now at 15,574 bales this morning with 352 bales decertified. First notice day for December futures deliveries is November 21. The Cotlook A index is down 45 points at 70.00 this morning.
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