Agfax Buzz:

    April 25, 2012

    AFB Cotton Close: Moderately Lower

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Cotton Comment
    Cotton was modestly lower today. China’s larger than expected plantings weighed on the market. However, it should be noted that an almost 10% cut in plantings will mean China will have to import more cotton, or use part of their stocks. The size of the U.S. crop, which is a big question, will be a major factor in whether this market can move higher. December resistance is layered in 3 cents intervals beginning at 91 cents.

    i

    Spot Price, Grade 41 Staple 34: Memphis down 66 at  8330
    Greenwood down  66 at 8330

     

    New York Futures: May down 47 at 8889
    July down 66 at 9080
    Oct down 36 at 9129
    Dec down 7 at 8864
    March ’12 down 1 at 8937

    This week’s LDP rate for cotton is

    0 cents
    The estimate for next week is 0 cents

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