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AFB Cotton Close: Price Plunge Lower

Ernst Undesser
By Ernst Undesser August 20, 2013

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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Ernst Undesser
By Ernst Undesser August 20, 2013