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AFB Cotton Close: Steady to Firm with Small Gains

Ernst Undesser
By Ernst Undesser April 26, 2012 15:31

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

Ernst Undesser
By Ernst Undesser April 26, 2012 15:31