Cotton #2 Futures PricesWed, Oct 26th, 2016
Latest Brugler Cotton #2 Report
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Cotton futures gave back some ground heading into the close, but settled 76 to 85 higher on the day. The US dollar index was lower for a second day, but rallied back into the close. Celeres is projecting that Brazilian cotton acreage will be up 4% from last year, with yields also improved. The weekly AWP for this week is at 60.66 through Thursday. The Cotlook A Index is 78.15, down 30 points from the previous quote. Traders are looking for weekly US cotton Export Sales through October 20 to be slower than the 340,200 RB reported last week. That figure was the second largest of the marketing year. Official Chinese cotton imports for September from all sources were 60,384 MT, equivalent to 277,338 statistical (480 lb) bales.
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