Archive for December, 2015
Sunday, December 27, 2015 – Daily Corn, Soybean and Wheat Market Briefs and Forecast
By admin in Daily ReportsSunday, December 27, 2015 – ICE Cotton Closes Week on Strong Note, Settles Near Unchanged on Week
By admin in Daily ReportsThe Mar contract gained 89 points on Thu, settling at 63.66 – a 3 point loss on the week. The settlement was within the upper one quarter of the trading range. The May contract gained 69 points settling at 64.35, the net effect leaving the Mar – May spread strengthened at (69). Volume slowed for Mar delivery at approximately 7.7K contracts while Mar OI contracted at approximately 123.5K contracts.
For Mon…
Sunday, December 27, 2015 – Weekly Complimentary Cotton Market Report
By admin in Weekly ReportsICE Mar futures finished the holiday-shortened week near unchanged, giving up 3 point, settling at 63.66 on light volume. Specs liquidated long positions, but the week capped with an 89 point daily gain. Dec gave back 11 points on the week, settling at 64.85.
For this week…
Thursday, December 24, 2015 – Weekly US Cotton Export Report Results and Commentary
By admin in UncategorizedTotal net export sales and shipments for the week ending Dec 17 were modestly higher vs the previous sales period at 130K and 137.5running bales, respectively. Sales were just below the weekly pace required to meet the USDA’s revised 10M bale export target. Sales cancelations were near non-existent. Total commitments against the new marketing year are now 52% of the USDA’s export projection and new crop sales will need to average approximately 147K running bales per week in order to meet the target.
Today’s figures are nothing to get excited about, but they are also not bad for the holiday season. The market has again retraced to the upper portion of a range where approximately 1.25M bales of US exports were sold over a 5-week period. We continue to think that the downside for cotton is likely somewhat limited over the near-term.
