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

    Rose on Cotton: Increased Export Competition with India10-24

    Georgia Cotton: Harvest Chugs Along, Yields Mostly Good10-24

    Doane Cotton Close: Strong Stock Market Keeps Prices Up10-24

    AFB Cotton Close: Higher in Middle of Day’s Range10-24

    DTN Cotton Close: Jumps Ahead as Volume Improves10-24

    Cleveland on Cotton: Market Keeps Spinning the Same Record10-24

    Farm Finances: Prepare Now for Rising Interest Rates – DTN10-24

    Georgia: Museum of Agriculture Is Fun and Educational10-24

    Arkansas: Series of Farm Bill Workshops Set Across State10-24

    DTN Cotton Open: Slightly Higher on Light Volume10-24

    Keith Good: EPA’s Water Rule Approved by Internal Review Board10-24

    AFB Cotton Close: Dec. Moves Higher10-23

    Doane Cotton Close: Prices Boosted by Stock Market Strength10-23

    DTN Cotton Close: Settles Mixed as Dec. Rallies10-23

    Advances in Farming Technology Continue to Aid Mother Nature — DTN10-23

    DTN Cotton Open: Slides Lower within Tight Ranges10-23

    U.S. Energy: Crude Exports, Re-Exports Continue to Rise10-23

    Gasoline Prices: Show 9-Cent Decrease10-23

    Propane Stocks: Increase by 0.2M Barrels10-23

    Diesel Prices: Average Drops 4 Cents10-23

    Keith Good: EPA’s Approval of Enlist Duo Herbicide Challenged by Suit10-23

    Doane Cotton Close: No New Fundamental News10-22

    AFB Cotton Close: Inside Day Turns Negative10-22

    Georgia: 2 Counties Declared Natural Disaster Areas10-22

    Arkansas: 2 Counties Designated Natural Disaster Areas10-22

    DTN Cotton Close: Mixed on Light Volume10-22

    Don’t Just Piggy-Back on Others’ Prices in Ag Commodity Markets10-22

    DTN Cotton Open: Higher in Subdued Dealings10-22

    National Cotton Council Commends Timely APH Announcement10-22

    Keith Good: APH Yield Exclusion Implementation Draws Praise — Mostly10-22

    Doane Cotton Close: Positive Chinese Economy Boosts Prices10-21

    Farm Shop Dream Requires Thoughtful Planning – DTN10-21

    DTN Cotton Close: Snaps String of Five Lower Finishes10-21

    Texas Crop Weather: El Niño Stalled Out but Cool, Wet Winter Still Predicted10-21

    USDA to Implement APH Yield Exclusion for 2015 Spring Crops10-21

    AgFax Cotton Review: Lower Acres May Close Mill; Australia Acres Up10-21

    DTN Cotton Open: Near Unchanged in Tight Ranges10-21

    DTN Fertilizer Trends: High Costs May Alter Growers’ Tactics for 201510-21

    Keith Good: Tumbling Grain Prices May Prove Costly for Taxpayers10-21

    AFB Cotton Close: Selling Accelerates10-20