By admin       2018-05-12

Spot cotton trading was inactive. Supplies of available cotton were light. Demand was light. Average local spot prices were higher. Trading of CCC-loan equities was slow. No forward contracting was reported. Cotton was being delivered to fulfill contracts. Warm and sunny climatic conditions allowed producers to make good progress with planting. Seasonably mild overnight temperatures were in the 50s and 60s. Daytime highs were in the 80s. No rain was reported. Producers reported that fieldwork, including burndown, fertilizer applications, and planting was underway. According to the National Agricultural Statistics Service’s Crop Progress report released May 7, planting was at 19 percent in Arkansas, 37 in Missouri, and 10 percent completed in Tennessee. Planting in Arkansas and Missouri was about one week behind the five-year average, but was right on schedule in Tennessee. Producers made excellent progress and planting was expected to advance rapidly going forward.

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