DTN Cotton Open: Higher In Abbreviated Session

USDA issued its export sales data Friday morning, delayed due to the observance of Thanksgiving. Friday’s sales were much improved over last week’s 131,000 bales sold.

The ICE exchange reported only 8 deliveries Friday morning placed against the spot December contract. Term Commodities was the issuer, with SG Americas as the sole stopped. To date there have been 202 notices tendered against the December contract, and 345 for the entire crop year. December cotton expires on December 8.

USDA issued its export sales data Friday morning, delayed due to the observance of Thanksgiving. Friday’s sales were much improved over last week’s 131,000 bales sold. USDA’s summary of Friday’s report is as follows:

Net sales of 354,700 RB for 2020/2021 were up noticeably from the previous week and up 84 percent from the prior 4-week average. Increases primarily for Vietnam (169,500 RB, including decreases of 13,200 RB), Bangladesh (89,400 RB), Turkey (28,700 RB), China (28,000 RB, including 900 RB switched from Hong Kong and decreases of 63,900 RB), and Pakistan (10,500 RB), were offset by reductions for Hong Kong (900 RB) and Costa Rica (400 RB). For 2021/2022, net sales of 38,500 RB were for China (37,000 RB), Mexico (1,100 RB), and Costa Rica (400 RB).

Exports of 183,000 RB were down 34 percent from the previous week and 32 percent from the prior 4-week average. Exports were primarily to China (89,500 RB), Vietnam (20,900 RB), Pakistan (19,700 RB), Mexico (16,700 RB), and Bangladesh (8,400 RB). Net sales of Pima totaling 26,900 RB were up noticeably from the previous week and up 45 percent from the prior 4-week average. Increases primarily for China (10,400 RB), Vietnam (4,900 RB), India (4,500 RB, including decreases of 100 RB), Peru (2,900 RB), and Hong Kong (2,600 RB), were offset by reductions for Bangladesh (1,000 RB) and Switzerland (400 RB). Exports of 21,700 RB were up 14 percent from the previous week and 11 percent from the prior 4-week average.

The destinations were primarily to India (6,700 RB), Bangladesh (5,000 RB), China (4,300 RB), Vietnam (1,900 RB), and Pakistan (1,900 RB).

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