Agfax Buzz:

    April 16, 2012

    AFB Cotton Close: Market Under Heavy Pressure

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Cotton Comment
    The threat of a slowing Chinese economy and new export permits from India put cotton under heavy pressure. The result was the lowest December futures level in 4 months. That was the contract low near 84 cents which is the next downside target. Big world stocks will continue to limit export opportunities.

     

    Spot Price, Grade 41 Staple 34: Memphis down 400 at  8258
    Greenwood down  400 at 8258

     

    New York Futures: May down 400 at 8808
    July down 248 at 8725
    Oct down 256 at 8787
    Dec down 231 at 8637
    March ’12 down 232 at 8722

    This week’s LDP rate for cotton is

    0 cents
    The estimate for next week is 0 cents

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