By admin       2018-05-11

U.S. weekly upland export sales came in at 193,100 RB for this season and 228,600 RB for next season. Upland shipments quickened to 510,500 RB. Cash online grower sales of 7,216 bales brought an average of 67.91 cents per pound on The Seam. Cotton futures ticked on slight losses in early dealings Thursday as traders digested USDA’s U.S. weekly export sales-shipments data and awaited supply-demand reports later in the day. July hovered off 16 points to 85.70 cents, trading within a 92-point range from 86.17 cents to 85.25 cents on a contract volume of 3,050 lots. December ticked down 14 points to 80.42 cents, trading within a 68-point span 80.75 cents to 80.07 cents on a turnover of 3,698 lots. Net upland sales for shipment this season of 193,100 running bales during the week-ended May 3 increased 2% from the previous week but fell 21% from the prior four-week average. Sales went to 17 countries, led by Vietnam, China, Indonesia, Turkey and South Korea. Gross sales were 212,800 RB and cancellations were 19,800 RB. Net upland sales for shipment next season of 228,600 RB brought the total for both crop years to 421,700 RB, down from 500,000 the week before. New-crop sales went to 12 countries, primarily to China, El Salvador, Honduras and Mexico. Upland shipments quickened to a brisk 510,500 RB, up 18% from the previous week and 19% from the four-week average. Shipments went to 25 countries, headed by Vietnam, Turkey, China, Pakistan and Indonesia. Net Pima sales for this season of 3,300 RB dropped 70% from the previous week and 19% from the four-week average, while shipments of the extra-long staple cotton of 10,300 RB were down 16% but up 2%, respectively. New-crop Pima sales of 300 RB were for India. In ICE cotton futures Wednesday, July and December closed a quiet session on modest gains, with both confined within tight trading ranges within the prior-day price spans. The inverted July-December spread traded between 506 and 572 points and widened two 38 points to settle at a 530-point July premium on a volume of 3,687 lots. December-March traded between an inverted 21 and 44 points and widened 11 points to close at a 38-point December premium on 1,154 lots. Cash online grower-to-business sales of 7,216 bales brought an average of 67.91 cents per pound and business-to-business sales of 1,583 bales sold for an average of 64.96 cents a pound. Staples 35 or more accounted for 5,378 bales or 75% of the G2B sales and 1,352 bales or 85% of the B2B sales. All the sales were from the Southwest. Sales on both exchanges totaled 8,799 bales, down from 9,917 bales. Offerings were 89,972 bales. The Cotlook A Index of world values fell 70 points to 93.95 cents, reflecting a premium of 8.57 cents over the prior-day July Futures settlement. In outside markets, Dow Jones Industrial Average futures traded up 68 points and S&P 9 points, while U.S. dollar index futures dipped 0.355 to 92.530 to give back some of its recent gains against a basket of major currencies. West Texas Intermediate crude oil ticked up 37 cents to $71.51 and Brent crude added 45 cents to $77.66 as the market prepared for potential disruption to crude flows from major exporter Iran in the face of U.S. sanctions. June gold gained $9.40 to $1,322.40. July corn was down 0.06%, July soybeans up 0.34% and July Kansas City wheat down 0.05%. Asian stocks closed higher, up 0.35% in Japan’s Nikkei 225, 0.89% in Hong Kong’s Hang Seng, 0.83% in South Korea’s Kospi and 0.5% in China’s Shanghai Composite. European shares were trading mixed, down 0.02% in Britain’s FTSE 100, up 0.36% in Germany’s DAX and up 0.02% in France’s CAC 40. China’s Zhengzhou cotton futures ended mixed and the China National Cotton Exchange closed with inactive transactions. India’s crop prices were lower.

Download App

# #

Member Login