The Farmer's Weblog

Monday, March 31, 2003

COTTON MARKETING WEEKLY
What a difference a week makes. The speculator decided to take his profits and run as the market began sending signals that export bids were slowing. At the same time, US merchants became less aggressive in making export offers. The sell off down to 56 cents took the contract to its lowest level since February 25. More exports will come, and coupled with mill fixations, New York futures should attempt to again challenge the 60-cent level. However, lower prices this week did bring back volume export business.
8:34:53 PM    comment []

USDA AMS Market News Reports - Cotton Reports
Spot cotton trading was very light in the Desert Southwest (DSW). Supplies remained at a moderate level. Demand was light. A very light volume of color grade 31 and higher, leaf 3 and better, staple 34 and mike 35-49 traded at 53.00 cents, uncompressed, FOB warehouse. No purchases for domestic mills were reported. Agents for mills in Japan purchased a light volume of Upland cotton for June/July shipment. Agents for mills in India purchased a light volume for April shipment. Some ginning from modules continued. The amount of cotton up to stands continued to expand in the Yuma County, Arizona area. Cotton planting resumed the latter part of last week as fields dried from early-in-the-week rain showers.
8:10:48 PM    comment []

This Page was last updated: 12/29/03; 3:38:17 PM
Copyright 2003 Russell Gum
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