Cotton #2 Futures PricesTue, Sep 27th, 2016
Latest Brugler Cotton #2 Report
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Cotton futures ended Monday on the green side of unchanged, settling 1 to 11 points higher on the session. The US Dollar index is trading lower and crude oil futures were higher on Monday. USDA says there was about 2.4 times as much cotton ginned by September 15, 2016 as there was a year earlier, however this year’s running total is only about half a percent larger than the running total for this date in 2014. NASS says the crop is 2 points behind normal in terms of bolls opening, and is running even with its five year average harvest pace. Texas is 11% done, vs. its five year average of being 15% done by this week. As we anticipated, the weekly AWP rose to 58.85 from 57.79 last week. It will be in effect through Thursday.
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