By admin       2018-10-15

Spot cotton trading was slow. Supplies and producer offerings were light. Demand was light. Average local spot prices were higher. Producer interest in forward contracting was light. Trading of CCC-loan equities was inactive. Foreign inquiries were light. Less than optimal harvesting conditions continued in the Blackland Prairies, the Edwards Plateau, and in the Upper Coast as more rainfall was received. Sprouting and regrowth were a concern and could require a second application of defoliants. Industry members were eager for drier conditions to wrap up harvesting in some locations. Some gins in the Rio Grande Valley had finished pressing services, and a few gins had around 100 modules left to process. In Kansas, bolls opening was at 73 percent, ahead of 58 last year and the 63 percent average, according to the National Agricultural Statistics Service’s Crop Progress and Condition report released on October 9. The cotton producing areas in Oklahoma received 10 to 12 inches of rainfall early in the reporting period. Modules were brought to the gin yards ahead of the rain event and ginning continued. Ginning is expected to catch up to the accumulated modules on October 14.

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