Agfax Buzz:

    April 18, 2012

    AFB Cotton Close: Market Moves Higher in Response to Indian Announcement

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Cotton Comment
    Cotton closed higher as the market responded to an announcement by India. It appears they will allow earlier sales that were in limbo after an export ban was put in place. Shipment of this cotton will be completed by May 7. Once that is completed it appears the U.S. might have greater export opportunities. However, upside potential remains limited at this time.

    i

    Spot Price, Grade 41 Staple 34: Memphis up 250 at  8643
    Greenwood up  250 at 8643

     

    New York Futures: May up 250 at 9193
    July up 177 at 9002
    Oct up 148 at 8958
    Dec up 85 at 8718
    March ’12 up 77 at 8803

    This week’s LDP rate for cotton is

    0 cents
    The estimate for next week is 0 cents

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