Cotton

Cotton futures are trading 9 lower (Oct) to 7 higher (July) this morning. They were down 32 to 83 points on Wednesday, in sympathy with a crude oil sell off. WTI Crude saw sharp $2.39 per barrel losses on Wednesday but is holding its ground this morning. The weekly USDA Export Sales report will be released at the normal 7:30 a.m. CDT time. This report will complete sales and shipments data for the 2017/18 MY. Traders, in general, are expecting NASS to show a reduction to the US cotton production figure on Friday. The Cotlook A index was up 25 points from the previous day at 98.25 cents/lb on August 6. The weekly USDA AWP is currently at 80.06 cents/lb and will be updated on Thursday.




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