Cotton
Brugler Marketing and Management, LLC - BRUG - Thu Jul 12, 7:15AM CDT

Cotton futures are trading 84 to 115 points higher this morning ahead of the USDA Export Sales and Supply/Demand reports. They were down a sharp 167 to 226 points in most front months on Wednesday. Selling came from the continued Chinese trade dispute, as President Trump released list of another $200 billion Chinese goods to target for a 10% tariff. Hearings on the list are expected to be in the Aug 20-23 time frame. This comes less than a week after both countries implemented tariffs on $34 billion of each other’s goods, including US cotton. Pressure was also apparent from strength in the US dollar. The Cotlook A index was up 250 points from the previous day on July 9 to 94.60 cents/lb. The weekly USDA AWP is 74.59 cents/lb through Thursday.




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