Cotton #2 Futures PricesThu, Jul 24th, 2014
Latest Brugler Cotton #2 Report
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Cotton futures are trading 43 to 60 points lower this morning after triple digit losses on Thursday. Volume jumped with the new selling (technically bearish). Estimated volume was 28,400 contracts vs. 8,912 yesterday. USDA reported net weekly export sales of US cotton for last week totaled 373,200 RB, including 3,700 RB of upland. 2013/14 sales of Upland cotton were net negative by 1,900 RB due to cancellations and rollovers. The USDA marketing year for cotton ends July 31. Any unshipped sales at that point will be applied to 2014/15 outstanding sales. This Export Sales report was through July 17. Cert stocks dropped to 182,731 bales, the smallest since February.
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