Cotton #2 Futures PricesWed, Aug 20th, 2014
Latest Brugler Cotton #2 Report
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Cotton futures rallied 162 to 164 points, with the strong US stock market feeding demand ideas and some shorts lifted to meet market calls from other markets. Estimated volume jumped to 21,000 contracts. Cert stocks dropped another 1,459 bales to 86,690 bales as the warehouses continue to clear out old inventory ahead of harvest. India is reporting a huge crop in the offing, as the monsoon delay encouraged some switching from oilseeds to less moisture dependent cotton. Monsoon rain totals are still about 18% below average. They have been slowly improving. The Cotlook A index is at 73.50 up 0.25 from the previous day.
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