Agfax Buzz:

    August 20, 2013

    AFB Cotton Close: Price Plunge Lower

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Cotton Comment

    Cotton prices plunged lower today, with the October and December contracts closing down the limit. Sharp gains over the last week moved this market into oversold territory signaling a technical selloff in cotton. While the U.S. crop conditions continue to worsen, overall global supplies remain large putting downward pressure on cotton.

    Futures:
    High Low Last Change
    Oct ’13 92.00 88.76 88.76 -4.00
    Dec ’13 92.80 88.86 88.86 -4.00
    Mar ’14 89.89 86.00 86.28 -3.72
    May ’14 87.28 84.79 84.99 -2.73
    Jul ’14 85.00 83.10 83.53 -1.88
    Oct ’14 78.73 -1.35
    Dec ’14 79.09 77.85 78.00 -1.51
    Mar ’15 77.81 -1.45

    Memphis, TN Cotton and Tobacco Programs

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