Cotton Futures Gaining on Midweek Trades

Following the triple digit gains on Tuesday, midday cotton futures are up another 35 to 83 points.

USDA’s Ag Attaché sees Australia’s cotton crop climbing to 3.9 million bales for 21/22. That would be up 50% yr/yr citing confidence in rain and improved irrigation. The Ag Attaché sees 21/22 exports jumping to 3.2m bales, which would be more than double this season’s 1.4m bales. USDA’s Ag Attaché in Brazil expects an 11% increase to cotton production, with 13.2m bales in 21/22. The Attaché estimates cotton shipments from Brazil to total 11.5m bales in 2021/22, up from 11 million this year. 

Monthly Census data showed February cotton exports were 1.571m bales. That was down 3% from January and down 20% from Feb 2020.

USDA’s DSQ for cotton showed 3,334 bales were sold at spot in the 4/6 report. The Cotlook A index for 4/6 was 255 points weaker back down to 85.10 cents/lb. USDA’s AWP for cotton is 65.59 cents/lb through Thursday.

May 21 Cotton  is at 79.22, unch

Jul 21 Cotton  is at 80.53, up 6 points,

Dec 21 Cotton  is at 79.89, up 48 points




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