Agfax Buzz:

    April 26, 2012

    AFB Cotton Close: Steady to Firm with Small Gains

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Cotton Comment
    Cotton was steady to firm, registering small across the board gains. Good crop progress and large world stocks are limiting upside potential. Smaller plantings in the U.S. and China and perhaps other areas suggest a smaller world crop in 2012. It will take a while to work off over 62 million bales of projected world carry over.

     

    Spot Price, Grade 41 Staple 34: Memphis up 131 at  8461
    Greenwood up  131 at 8461

     

    New York Futures: May up 142 at 9031
    July up 131 at 9211
    Oct up 41 at 9170
    Dec up 39 at 8903
    Mar up 45 at 8982

    This week’s LDP rate for cotton is

    0 cents
    The estimate for next week is 0 cents

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