Wednesday Cotton Higher at Midday

Cotton futures are in the black for Wednesday’s midday, with gains of 0 to 34 points. The US dollar index is higher this morning. US average cotton yield was lowered by 3% to 761 lbs/acre by USDA. The new lower yield pushed production for the 19/20 crop to 19.48 million bales. The cotton crop is still 1.914 million bales above the 2018 production. Ending stocks were trimmed to 5.5 million bales. The USDA Cotton Ginnings report showed cumulative ginnings have reached 12.930 MRB. The number grew 3.617 MRB through the latter half of Nov. The Seam reported online cotton sales of 5,327 bales for Monday, last Monday there were 7,655 bales. The Cotlook A Index fell 50 points on 12/10 to 74.85. The weekly AWP is 55.97 cents/lb through tomorrow afternoon.

Mar 20 Cotton is at 66.15, up 22 points,

May 20 Cotton is at 67.2, up 30 points

Jul 20 Cotton is at 67.93, up 34 points

Oct 20 Cotton is at 67.91, unch

---provided by Brugler Marketing & Management

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