By admin       2017-11-20

A jump to a crop year high in U.S. weekly export sales helped cotton futures recapture marketing week ground — plus some — lost the prior week. December gained 92 points for the week ended Thursday to close at 69.21 cents, back above its falling 50-day moving average and its highest finish since Oct. 25. It closed in the upper third of its 338-point, eight-week range from 70.22 to 66.84 cents ahead of first notice day on Nov. 24. Most-liquid and now also most-active March gained 64 points to settle at 69.18 cents, a three-point discount to December. It hit a high of 69.63 cents on Monday, just below chart resistance at the prior-week high and two-month peak at 69.67 cents. March posted a double-low of 68.62 cents on Tuesday and Wednesday, above the prior-week’s low at 68.34. Cash online grower-to-business sales quickened to 42,282 bales from 11,531 bales on The Seam. Prices averaged 67.24 cents, up from 66.39 cents. Staples 35 or more accounted for 37,626 bales or 89 percent of the turnover. Systemwide sales, including business-to-business sales, climbed to 54,421 bales from 39,223 bales. Daily average prices ranged from 65.70 to 68.61 cents.

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