DTN Cotton Open: Market in Lock-Down Amid Storms, USDA Report

Photo: Jourdan Bell, Texas A&M AgriLife

December cotton is essentially unchanged over night, awaiting marching orders from either Hurricane Florence, USDA’s crop data or both! As of this writing, Florence is turning a tad south and may possibly make landing Saturday morning above Charleston, South Carolina.

Such a move would possibly effect “less cotton” as it may barrel into eastern Tennessee and North Georgia. In other storm news, Hurricane Issac and a different Gulf Swirl bear close watching. That latter Swirl may effect the east Texas coast.

At High Noon (EDT) today, USDA will issue its long-awaited September Crop Report. Hopefully the government will lower the 2018 Crop, but to us, the world numbers are key this go around. Due to the US/China trade war, global sales and exports patterns may be changing.

December cotton support today will be 8195 and 8125, while resistance 8335 and 8530.

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