Agfax Buzz:

    May 2, 2012

    AFB Cotton Close: Narrow Trade Ends Mixed

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Cotton Comment
    Cotton traded in a narrow range and ended mixed. Renewed export registration by India provided the initial market pressure. That appears to have run its course with improved U.S. economic reports providing outside influence. A disappointing employment report, showing only 119,000 jobs created in April, added pressure across the board. Long term the market still must deal with huge world stocks which will limit upside expectations.

    Spot Price, Grade 41 Staple 34: Memphis down 17 at  8201
    Greenwood down  17 at 8201

     

    New York Futures: May down 5 at 8746
    July down 17 at 8951
    Oct down 17 at 8903
    Dec down 36 at 8658
    March ’12 up 13 at 8802

    This week’s LDP rate for cotton is

    0 cents
    The estimate for next week is 0 cents

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