Archive for August, 2014

August 28, 2014 0

Thursday, August 28, 2014 – USDA Cotton Export Report Results

By in Uncategorized

USDA-FAS reported total net sales against the current MY for the week ending Aug 21 of 250.6K RBs and total exports of 100.2K RBs. Sales cancellations were reported at a very slight 1.9K RBs. Total net sales were up significantly W/W.

Total commitments against the current MY stand at approximately 48% of the USDA’s export target of 10.7M bales. Total net sales will need to average approximately 111K RBs per week for the remainder of the current MY in order to meet the USDA export target.

We view today’s information as supportive; the significant increase in W/W sales occurred at higher average futures prices and with US currency significantly strengthened.

August 28, 2014 0

Wednesday, August 27, 2014 – Daily Cotton and Grain Report: Producer Edition

By in Producers and Ginners

Scattered showers continue to occur over W TX cotton fields, with increased chances for further precipitation mentioned in the weather forecast for later this week; however, some concern was raised today, with respect to southern TX, regarding moisture associated with a system currently within the Gulf of Mexico and its potential to damage to open cotton.

Technically, the daily and weekly outlook for Nov soybeans remains bearish with the market remaining in an oversold condition.

For tomorrow…

August 27, 2014 0

Wednesday, August 27, 2014 – Dec Trades Strongly Ahead of US Export Report; China Cotton Association Projects Production Significantly Greater than USDA

By in Daily Reports

Dec gained 57 points today to settle at 67.46. The downtrend is now truly in jeopardy. Gaps remain below the current market at 63.84 – 63.88 and 63.37 – 63.46 and above the market at 77.80 – 78.00.

Although we have neither heard nor seen trade expectations for results to be put forth in tomorrow’s US cotton export report, we expect that most will not be surprised by some reduction in current MY net sales W/W.

For tomorrow…

August 26, 2014 0

Tuesday, August 26, 2014 – Daily Cotton and Grain Report: Producer Edition

By in Producers and Ginners

Dec gained 74 points today to settle at 66.89. Gaps remain below the current market at 63.84 – 63.88 and 63.37 – 63.46 and above the market at 77.80 – 78.00. The settlement was within the upper one quarter of today’s 112 point trading range (65.83 – 66.95).

Ethanol margins also remain strong, but little other commercial interest is noted. Continued strength in US currency continues to keep Dec futures under pressure.

For tomorrow…

August 26, 2014 0

Tuesday, August 26, 2014 – Dec Challenges Resistance Near 67.00

By in Daily Reports

Dec gained 74 points today to settle at 66.89. Gaps remain below the current market at 63.84 – 63.88 and 63.37 – 63.46 and above the market at 77.80 – 78.00. The settlement was within the upper one quarter of today’s 112 point trading range (65.83 – 66.95).

The standard technical bias for the front month continues is bullish. Dec has again settled above its 5-, 10- and 20-day SMAs and above its upper Bollinger Band, as well.

For tomorrow…

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