The Latest

Events

  1. Kansas: K-State Program to Help Farmers Deal with Historic Ag Downturn

    December 7, 2016 @ 8:00 am - February 15, 2017 @ 5:00 pm
  2. Louisiana: LSU Rice Clinics Scheduled Jan. 5 to Feb. 8 in 6 Locations

    December 20, 2016 @ 8:00 am - February 9, 2017 @ 5:00 pm
  3. South Carolina: 4 Upcoming Forest Management Workshops for Woodland Owners

    January 12 @ 8:00 am - February 10 @ 5:00 pm
  4. Minnesota: Weed Resistance Workshops for Jan., Feb.

    January 13 @ 8:00 am - February 24 @ 5:00 pm
  5. Louisiana: LSU Offers 3 Irrigation Workshops in Jan., Feb.

    January 17 @ 8:00 am - February 14 @ 5:00 pm
  6. Illinois: 4 Regional Crop Management Conferences in Jan., Feb.

    January 18 @ 8:00 am - February 15 @ 5:00 pm
  7. Georgia Ag Forecast Series Scheduled Jan. 18-27

    January 18 @ 8:00 am - January 27 @ 5:00 pm
  8. Texas: Pecan Short Course, College Station, Jan 23-26

    January 23 @ 8:00 am - January 26 @ 5:00 pm
  9. Missouri: 9 ‘Grow Your Farm’ Sessions from Jan. – March

    January 23 @ 8:00 am - March 11 @ 5:00 pm
  10. Texas: Red River Crops Conference, Childress Jan. 24-25

    January 24 @ 8:00 am - January 25 @ 5:00 pm
  11. South Carolina: Cotton, Peanut Grower Meetings, Sentee, Jan. 24, 26

    January 24 @ 8:00 am - January 26 @ 5:00 pm
  12. Missouri: 4 Farm Retirement, Succession, Estate Planning Workshops in Jan., Feb.

    January 24 @ 8:00 am - February 14 @ 5:00 pm
  13. Arkansas Soil & Water Education Conference, Jonesboro, Jan. 25

    January 25 @ 8:00 am - 5:00 pm
  14. Georgia: Cotton Production Workshop, Tifton, Jan. 25

    January 25 @ 8:00 am - 5:00 pm
  15. Texas: Feed Grains Marketing Workshop, Amarillo, Jan. 25-26

    January 25 @ 8:00 am - January 26 @ 5:00 pm
  16. Virginia Eastern Shore Ag Conference and Trade Show, Melfa, Jan. 25-27

    January 25 @ 8:00 am - January 27 @ 5:00 pm
  17. Louisiana: Conservation Program Workshop, West Monroe, Jan. 25

    January 25 @ 8:00 am - 5:00 pm
  18. Middle Tennessee Grain Conference, Manchester, Jan. 26

    January 26 @ 8:00 am - 5:00 pm
  19. Texas: Pesticide Applicator Course, Harleton, Jan. 26

    January 26 @ 8:00 am - 5:00 pm
  20. Texas: Feral Hog Program, Falfurrias, Jan. 26

    January 26 @ 8:00 am - 5:00 pm
  21. Nebraska Livestock: 8 Nutrient Management Workshops in Jan. and Feb.

    January 26 @ 8:00 am - February 7 @ 5:00 pm
  22. Rice Industry: Upcoming Meetings in MS, AR, LA, in Jan., Feb.

    January 26 @ 8:00 am - February 8 @ 5:00 pm
  23. Texas: Llano Estacado Cotton Conference, Muleshoe, Jan. 30

    January 30 @ 8:00 am - 5:00 pm
  24. Texas: Feral Hog Management Workshop, La Vernia, Jan. 30

    January 30 @ 8:00 am - 5:00 pm
  25. Alabama: Upcoming Crop Production Meetings, Jan. 30, Feb. 7

    January 30 @ 8:00 am - February 7 @ 5:00 pm
  26. Indiana: Ag Business Management Workshop, West Lafayette, Jan. 31 – Feb. 2

    January 31 @ 8:00 am - February 2 @ 5:00 pm
  27. Texas: ‘Last Chance’ CEU Training, San Angelo, Jan. 31

    January 31 @ 8:00 am - 5:00 pm
  28. California: Farm Labor Management Workshops Scheduled in February

    February 1 @ 8:00 am - February 2 @ 5:00 pm
  29. Tennessee: Grain & Soybean Producers Conference, Dyersburg, Feb. 2

    February 2 @ 8:00 am - 5:00 pm
  30. Texas: Grain Elevator Workshop, Amarillo, Feb. 2

    February 2 @ 8:00 am - 5:00 pm

Doane Cotton Close: Old Crop Rally Gets Hammered

Ernst Undesser
By Ernst Undesser June 19, 2014

The big sudden rebound in old crop cotton had gone six straight trading sessions until yesterday’s break and it got hammered today. Until yesterday, new crop futures had been reluctant to follow the rally in old crop and the July-Dec spread had approached 15 cents until finally starting to close a bit yesterday and significantly today.

Unwinding of long July/short December spreads is surely a factor as well. If spread-unwinding is the best thing bulls can cling to for new crop, it’s gonna prove temporary at best and I suspect another selling opportunity.

 

If December futures can hit 79 again, cash marketers should take sales to 45% and Futures and options users hedge another 15%, to 65% priced. I totally concur with cotton guru Dr Carl Anderson who told followers yesterday that we could be looking at a 16.5 million bale crop vs USDA’s June WASDE call for 15.0 million bales in a year.

The only bright spot in that event is Anderson’s observation that U.S. export potential probably exceeds USDA’s current forecast because the gap between foreign production and foreign use is 7.7 million bales, the biggest deficit in three years.

Ernst Undesser
By Ernst Undesser June 19, 2014