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 inactive. No forward contracting was reported. Cotton was being delivered to fulfill contracts. Ideal weather conditions allowed producers to make excellent planting progress. Overnight temperatures were in the 50s and 60s. Daytime highs were in the 80s. Up to 1 inch of rain was reported in a few areas. Producers reported that fieldwork, including burndown, fertilizer applications, and planting was well underway. According to the National Agricultural Statistics Service’s Crop Progress report released May 7, planting was at 27 percent in Louisiana, about two weeks behind the five-year average, and slightly behind in Mississippi at 21 percent completed. Producers made excellent progress and planting was expected to advance rapidly in the days ahead

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