By admin       2019-03-01

Net sales of 85,500 RB for 2018/2019 were reported for Indonesia (29,600 bales, including 500 RB switched from Japan), Vietnam (27,800 RB, including 16,700 RB switched from China, 1,100 RB switched from South Korea, and decreases of 24,000 RB), Turkey (27,400 RB), Bangladesh (21,500 RB), and Pakistan (7,900 RB, including decreases of 5,000 RB).Reductions were reported for China (65,600 RB) and Malaysia (500 RB). For 2019/2020, net sales of 12,100 RB reported for China (11,000 RB), Mexico (2,700 RB), and Indonesia (900 RB), were partially offset by reductions for Indonesia (2,600 RB). Exports of 345,700 RB were primarily to Vietnam (92,600 RB), Pakistan (70,100 RB), India (36,200 RB), Indonesia (23,500 RB), and Bangladesh (23,400 RB).Net sales of Pima totaling 9,300 RB for 2018/2019 were reported for Vietnam (4,400 RB), India (2,000 RB), Pakistan (1,300 RB), and China (1,200 RB, including decreases of 200 RB). Exports of 15,800 RB were primarily to China (5,500 RB), Pakistan (3,100 RB), Vietnam (3,000 RB), India (1,300 RB), and Peru (1,200 RB).There was a confirmed statement for the U.S. Trade Representative Robert Lighthizer who said cotton was definitely on China’s list of U.S. agricultural products to purchase, but no trade deal has been reached. This suggests a rally may yet still unfold for the market.We also continue to be mindful of the Indian-Pakistani troubles. As of this morning, Pakistan claims to be releasing the downed Indian pilot as a means of de-escalating the fuss.Close-in support for May cotton is 71.90 cents and 71.00 cents, with resistance at 72.72 cents and 74.00 cents. Overnight estimated volume stands at 3,290 contracts traded.

Download App

# #

Member Login