Agfax Buzz:
    May 7, 2012

    Doane Cotton Close: 6th Consecutive Day of Losses

    AgFax.Com - Your Online Ag News Source

    The Doane Cotton Commentary - Leading in Agricultural Analysis Over 70 Years - Copyright

    The cotton market settled lower Monday, making for 6 consecutive days of losses in the December contract. Both July and December fell to fresh 4 1/2 month lows. Futures declined steadily since early this morning, and with selling setting in hard ahead of the close. July finished 132 points lower at 86.67 cents and December was down 107 points at 84.73 cents.




    Rain in the southeast over the weekend and more rain this week across much of the Cotton Belt pressured the market. Forecasts for west Texas were calling for 2 to as much as 4 inches of rain in some areas last week, but those forecasts have since been revised lower. Still, the rain is expected to be spread out over this week, with most of it coming on Tuesday, which should be better for soil absorption rather than losing the rain to runoff.Monday’s Crop Progress report from USDA showed 36% of the crop planted as of May 6, well ahead of last year and the 5-year average of 24% and 28%, respectively. The states that are the furthest ahead of normal are Alabama, Arkansas, Louisiana, Mississippi and Tennessee.

    Last week’s export report was mixed for cotton. Upland sales were negative 25,226 running bales due to cancellations from China and Indonesia. Pima sales were positive, however, at 11,032 running bales. Total shipments were a strong 336,373 running bales. Total shipments so far are 8.43 million bales, compared to USDA’s estimate of 11.4 million. Combined with outstanding sales of 3.65 million bales this puts the total at 12.08 million bales. There are typically some bales carried over at the end of the marketing year, but there is still some cushion right now where the cancellations are not a threat to reducing the export estimate.


    Tags: , , , , , , , , ,

    Copyright , Doane Advisory Services

    >

    Agfax Cotton News

    Doane Cotton Close: Futures Unable to Recover Losses8-29

    Mississippi Cotton: When to Terminate Bollworm Sprays in Late Bt Fields8-29

    DTN Cotton Close: Late Rally Leaves Dec. Flat8-29

    AFB Cotton Close: Dec. Moves Fractionally Lower8-29

    Farm Bill: Cotton Transition Assistance Enrollment Now Open8-29

    Georgia: Crop Consultants Offer Expert Advice For Farming Decisions – VIDEO8-29

    Mississippi Cotton: Healthy Crop Tempered by Slumping Prices8-29

    DTN Cotton Open: Extends Prior-Session Loss8-29

    Farm Payments to Stakeholders Rise as Gov. Payments Decline – USDA8-29

    Young Farmer in Your Future? – Helping Him or Her is Key to Success. – DTN8-29

    Tennessee Cotton: Cool Temperatures Set Crop Back8-29

    Net Farm Income Forecast to Fall,10.6% Decline Crop Value – USDA8-29

    Keith Good: Corn, Soybean Farmers May Face Financial Pinch in 20158-29

    AFB Cotton Close: Market Turns Lower8-28

    Doane Cotton Close: News from China Moves Market Lower8-28

    Missouri: Moth Trap Data for Bootheel Pests8-28

    Alabama: Pesticide Clean Days, Sept. 3-48-28

    Oklahoma: Peanut and Cotton Field Tour, Fort Cobb, Sept. 238-28

    Oklahoma: Fall Cotton Tour, Hydro, Sept. 118-28

    North Carolina Cotton: Bollworms Developing in Bt Fields8-28

    Farm Drones Under Scrutiny: Farmers Impatient for FAA Ruling – DTN8-28

    DTN Cotton Close: Settles at 3 Session Low8-28

    Georgia Cotton: Boll-Feeding Insects on the Prowl8-28

    John Deere Lays Off 460 from Waterloo, Iowa Factory8-28

    DTN Cotton Open: Slides Even after Supportive Sales8-28

    U.S. Energy: Retail Gas Prices Follow Crude Prices Lower8-28

    Gasoline Prices: Decline by 2 Cents8-28

    Propane Stocks: Up to 74.7M Barrels8-28

    Diesel Prices: Average Drops a Penny8-28

    Georgia: Summer Drought Plus Heat Putting Stress on Crops8-28

    Keith Good: Map Controversy Puts EPA on Defensive about Water Rule8-28

    Cotton – Midsouth – Bolls Opening, Early Defoliation Nears – AgFax8-27

    AFB Cotton Close: Solid Gains Unable to Reach Resistance8-27

    DTN Cotton Close: Climbs to New Rally High8-27

    Doane Cotton Close: Technical Strength Continues8-27

    Cotton – Southeast – More Open Bolls, Lingering Pests – AgFax8-27

    Farm Groups Map Waters to Block Clean Water Act Changes – DTN8-27

    Texas: 2 More Counties Make Natural Disaster List8-27

    Southwest May Face ‘Megadrought’ This Century, Say Scientists8-27

    DTN Cotton Open: Trades Slightly Lower within Tight Span8-27