Market Reports
China Cotton Auction FINAL
  • 12-March-2018 To 30-Sept-2018

    METRIC TONNES
    Reserve Stock End Of 2017 5,256,286
    Cumulative Sales 2,510,279
    Remaining Stock 2,746,007

    BALES
    Reserve Stock End Of 2017 24,142,123
    Cumulative Sales 11,529,712
    Remaining Stock 2,612,411
ICE Cotton Update 07-Mar-2019
  • Cotton futures slip from near two – week peak on profit – taking

    ICE cotton futures settled lower on Wednesday, as investors booked profits after prices rose to nearly two-week highs earlier in the session.

    The most active cotton contract on ICE Futures U.S., the May contract , settled down 0.4 cent, or 0.54 percent, at 74.21 cents per lb.

    However, the second-month contract hit its highest level since Feb. 22, at 74.90 cents during the session.
Historical Revisions to Indian's Cotton Balance Sheet - USDA
  • Historical Revisions to Indian's Cotton Balance Sheet - USDA

    Historical revisions have been made to India’s balance sheet for the years 2002/03 through 2013/14, with the stock adjustment carried forward. The revisions are based on the conclusion that market yard arrivals data underreported arrivals in the early portion of the harvest season. This conclusion was based on observed market activity in November for several years.
Brazil: More cotton acreage is being planted
  • Shifting Corn Acres to Cotton

    While corn remains the major safrinha crop for Brazilian farmers, more cotton acreage is being planted in Mato Grosso this spring, as well.

    Over the past two years, cotton planting has increased by nearly one-third for the safrinha in Mato Grosso. The Brazilian Association of Cotton Producers(Abrapa) forecast cotton acreage to grow to 1.4 million hectares (3.46 million acres). Mato Grosso accounts for about 88% of Brazil’s cotton production.
ICAC - World Cotton Supply and Distribution
  • Global Consumption Growth Projected to Slow to 0.04% in 2018/19

    • Global consumption growth is expected to slow to 0.04%
    • Growth in mill-use in East Asia is expected to slow to 6%
    • Mill-use expansion in Bangladesh is expected to slow to 7%
    • China’s consumption growth is expected to slow by 8%
    • Consumption is expected to increase by double digits in Turkey,
    Indonesia and Uzbekistan
DTN Cotton Close18-April
  • Lower on Weak Sales

    Cotton was lower Thursday as the highly anticipated weekly sales and exports report was less than friendly. As the old saying goes “Anticipation is always greater than Realization”. Thus, the basic ingredient missing in Thursday’s data was China.
Cotton Indices and Spot Rate As on 18-Apr-2019
  • US Upland Spot Rate 72.81 -0.69

    Brazil Cotton Index 73.85 -0.09%

    KCA Spot Rate 8,800 Unch

    MCX Spot Rate 22,440

    China Cotton Index
    As on 19-Apr-2019

    CC Index 328 15671 -01
    CC Index 227 14712 +05
    CC Index 229 16093 +0
ICE Cotton Update
  • COTTON SLIPS AS DOLLAR GAINS; POSTS WORST WEEK IN 2-MONTHS

    ICE cotton futures fell on Thursday as the dollar strengthened, while a fall in the weekly export sales report from the United States Department of Agriculture's (USDA) added to the downbeat sentiment.

    The most-active cotton contract on ICE Futures U.S. July settled down 0.69 cent, or 0.87 percent, at 78.27 cents per lb. It traded within a range of 77.77 and 79.04 cents per lb. * Prices fell 0.7% this week, its worst weekly decline in two months.
Stock Position as on 17-Apr-2019
  • NCDEX
    Cotton Seed Oil Cake Stock
    Unencumbered = 44,339 MT
    Pledged = 5,789 MT
    QTY in Process = 30 MT

    MCX
    Total Utilized Capacity = 2,10,900 Bales
    Eligible for Exchange Delivery = 2,09,200 Bales
    Quantity in Process = 1,000 Bales
    Rejected Stocks = 700 Bales
Cotton Inc. Monthly Economic Letter Mar-2019
  • Cotton Market Fundamentals & Price Outlook

    RECENT PRICE MOVEMENT

    Benchmark prices were flat or slightly higher over the past month. 

    Prices for the May NY futures contract increased over past month, climbing from levels just below 70 cents/lb in mid-February to those near 74 cents/lb recently.  
Shurley on Cotton 15-Mar-2019
  • Market Continues to Need Clarity

    A week or so ago, as I left early one morning for work, the fog was so bad you literally could not see how to drive. Literally, every foot down the road at not more than 20 mph was an unknown and an accident just waiting to happen.

    For 35 days, the partial US government shutdown kept markets in a fog due to USDA reports and data not being available. Those reports and data are being or have been caught up now.
Reinhart Cotton Market Report 21 Mar
  • India – Gujarat 29mm cotton traded firm from last week, reported around INR 44’000 per candy equivalent to US Cents 84 per lb FOB Mundra based on prevailing exchange rate. The USD-INR pair continues to trade firm and tested the 7-month low at 68.34, mainly due to overseas fund inflows into Indian equities and positive trade deficit data. In short term, we can expect recovery to 69.50 to 70.00 area, but the overall trend remains for a stronger Indian rupee.
Thompson On Cotton 21-Mar-2019
  • Days of sunshine with tractors stirring up dust are enough to knock the rust right off your soul. You can sense it when talking to growers, there is a lift in their voices and a chuckle or two now and then.

    That’s a welcomed feeling after a grueling and depressing past several months. Dissolved of the hangover of 2018, sights are now set on the bountifulness a new crop can bring. Resiliency has and always will be the cornerstone of our industry – something I revere most about all those involved with it.
PCCA Cotton Market Weekly
  • MARCH 22, 2019

    STRONG GAINS FOR COTTON FUTURES THIS WEEK

    • Macroeconomics Favor Commodities
    • Export Sales Remain Weak
    • Mixed Trade Signals
    • Weather Concerns Emerge
    • Prospective Plantings Report Coming

    Futures prices surged to their highest level since December this week. The May contract added 108 points from last Friday’s close to settle at 76.58 cents per pound. While volume picked up Thursday as the market touched the fresh high of 77.82 cents, slow trading earlier in the week kept the total volume low.
Rose On Cotton
  • 24-March-2019

    CHINA SHOPPING FOR COTTON TO REPLENISH ITS DWINDLING RESERVES?

    The most pertinent international news for cotton on the week again involved China. Early in the week the general expectation was for a deal to be reached no sooner than late spring/early summer, but on Friday there was an announcement that several memorandums of understanding regarding trade between the two countries had been signed, which is a very encouraging sign.
Cleveland On Cotton 24-Mar-2019
  • Cotton prices were influenced by the swine flu disaster in China and its spillover into all commodities. The price rally continued higher as fund managers gave up their attempt to drag prices lower and the ensuing short covering sent the bears running for cover as they exited losing positions. While the rally moved to 78 cents, basis there nearby May contract, it met rather stiff price resistance on an attempted move to 78.50 cents.
Jernigan Global Weekly 25-Mar
  • HIGHLIGHTS

    1. COTTON CRISIS AT RETAIL; 2018 US RETAIL OFFTAKE OF APPAREL DOWN 19.5% FROM 2010 IN VOLUME

    2. AUSTRALIA’S COTTON BELT RECEIVES ISOLATED SHOWERS

    3. SOUTHERN XINJIANG MACHINE-PICKED COTTON HAS QUALITY PROBLEM

    4. US/CHINA TRADE AGREEMENT; MORE TALKS AND CONFLICTING SIGNALS

    5. COULD CHINA’S AFRICAN SWINE FEVER BE SPREAD THROUGH OTHER EXPORTS?
Rose on Cotton
  • USDA Springs Bullish Surprise On Market Participants

    The most pertinent international news for cotton continues to involve China. US trade representatives were in China on Mar 28 and 29, with Chinese negotiators expected to visit D.C. next week. Sentiments continue to oscillate between positive and mildly discouraging. We had hoped that the Mueller report (which provided indications of neither collusion nor obstruction of justice) might incentivize the Chinese to become more receptive to the US Administration’s demands
USDA Prospective Plantings
  • USDA Planting Intention

    US All cotton planted area for 2019 is estimated at 13.8 million acres, 2 percent below last year.

    Upland area is estimated at 13.5 million acres, down 2 percent from 2018.

    American Pima area is estimated at 255,000 acres, up 2 percent from 2018.
Cleveland On Cotton 29-Mar-2019
  • Cotton futures relieved their seriously overbought conditions and charged ahead to near the prior week’s settlements. Reasonably good export sales and shipments were positive for the market.
PCCA Cotton Market Weekly
  • MARCH 29, 2019

    FUTURES RALLY AGAIN, UP 103 POINTS FOR THE WEEK

    • Trade Rumors Reported, But Concerns Remain
    • Export Report Disappoints Some
    • Economic Warning Signals From Brexit
    • Planting Intentions Report a Shocker

    Prices rallied to a fresh 14-week high this week with May futures trading to 77.98 cents per pound. Semi-positive rumors about trade negotiations helped the rally Monday and Tuesday, but the market backed off the highs Wednesday following talk about possible delays in negotiations.
Jernigan Global Weekly 01-Apr-2019
  • HIGHLIGHTS

    1. SELVEDGE DENIM REFLECTS THE LAST 100% COTTON PRODUCT IN DENIM; USA LEFT AT MAJOR DISADVANTAGE

    2. INDIAN COTTON PRICES CONTINUE TO MOVE HIGHER, WITH IMPORT INQUIRY CONTINUING

    3. TURKISH ELECTIONS ADDING NEW LIRA VOLATILITY THAT MAY HURT IMPORTS

    4. HEAVY RAINS HIT AUSTRALIA’S QUEENSLAND REGION, RAISING CONCERNS FOR 2019 CROP BUT BOOSTING WATER SUPPLIES FOR 2020

    5. US PIMA WEEKLY EXPORT SALES REACH HIGHEST LEVEL IN FIVE YEARS
ICAC - World Cotton Supply and Distribution
  • Global Consumption Projected to Reach Record High in 2019/20

    ·Despite persistent challenges, global cotton consumption should reach an all-time high in 2019/20
    ·World production should rise to 27.6 million tonnes, boosted in part by a 6% increase in global yields
    · Ending stocks are projected to increase slightly from 2018/19 to 17.7 million tonnes
    · ICAC’s price projection for the A Index at the end of 2019/20 is 81.25 cents per pound, with a forecast range between 60.71 to 94.23 cents per pound
U.S. EXPORT SALES
  • For Week Ending 28-03-2019

    2018-2019
    Net Upland Sales 3,22,200
    Upland Shipments 4,10,900
    Net Pima Sales 16,200
    Pima Shipments 17,000
    TOTAL SALES 3,38,400

    2019-2020
    Net Upland Sales 1,51,100
    Net Pima Sales 300
    TOTAL 1,51,400
Reinhart Cotton Market Report 04 Apr
  • India – Cotton prices traded firm on slow selling from ginners and weak arrivals in the market yards. As per the Cotton Corporation of India (CCI), arrivals for 2018‐19 season reached 25.03 million bales as of March 26th, down 4.6% on y‐o‐y. Active import demand is being noticed from Southern mills and import businesses were reported for West African origin for April/May shipments at 85.00‐87.00 c/lbs, CFR Tuticorin.
Plexus Market Comments 04 April
  • So where do we go from here?

    At the moment we are still seeing a fairly even match between spec buying and trade selling, and until one of these two forces gains the upper hand, the market may not move that much.

    However, given the shrinking supply in major origins and the risk-on mentality in financial markets, we feel that the downside is limited to 75 cents, while the upside still holds some potential for move into the low 80s.
PCCA Cotton Market Weekly
  • APRIL 5, 2019

    COTTON MARKET RALLIES AGAIN THIS WEEK

    • May Cotton Up 64 Points
    • Export Sales Provide a Boost
    • U.S. and China Economies Show Strength
    • Hopeful News on the Trade Front

    Prices continued to slowly climb higher this week, setting a new 15-week high today when May futures touched 78.48 cents per pound. Lack of positive news had the market slowly drifting lower through Wednesday.
Cleveland On Cotton 05-April-2019
  • What a difference a day makes!

    Ever since last Friday’s USDA’s indication that cotton plantings would likely be some 500,000-700,000 acres less than market expectations, cotton prices have moved higher and higher. The momentum is still in the market.

    The smaller than expected U.S. plantings brought out Chinese government buyers and they were looking for U.S. styles.
Rose On Cotton 06-Apr-2019
  • ICE COTTON FUTURES POISED FOR A MOVE TO THE UPSIDE?

    ICE cotton posted gains for the week ending April 5 – making it four in a row - with the Mar contract gaining 64 points (476 over the last four weeks) to finish at 78.25, above long-term downtrend resistance. The Dec contract gained 145, settling at 76.89. The July – Dec inversion weakened to 170 but will likely continue to prompt merchants to offshore old crop stocks.
Cotton Inc. Monthly Economic Letter Apr-2019
  • Cotton Market Fundamentals & Price Outlook

    RECENT PRICE MOVEMENT

    Benchmark prices either increased or were stable over the past month.

    Prices for the May NY futures contract increased, climbing from levels near 75 cents/lb in mid-March to those near 79 cents/lb recently. The July contract, which now represents more open interest, also rose and has maintained values slightly higher than those for the May contract.
U.S. EXPORT SALES
  • For Week Ending 04-04-2019

    2018-2019
    Net Upland Sales 2,89,000
    Upland Shipments 3,83,300
    Net Pima Sales 30,200
    Pima Shipments 21,000
    TOTAL SALES 3,19,200

    2019-2020
    Net Upland Sales 2,05,900
    Net Pima Sales 2,600
    TOTAL 2,08,500
Shurley on Cotton
  • Market Improves, Future Unknown as Planting Approaches

    In my previous comments to you, the title was “Cotton Continues to Need Clarity”. I’m not sure much has changed in that regard. The market has certainly made nice improvement, however, and we can be thankful for that.

    There is still no word or advance in trade talks and the March 30th Prospective Plantings report, in my opinion, threw more uncertainty on the market.
Reinhart Cotton Market Report 11 Apr
  • India – The Cotton Association of India (CAI) has released its latest S&D figures for the 2018/19 (October‐September period) season whereby the cotton crop estimate was reduced to 32.1 million bales, down 800’000 bales from the last estimates. The declines are mainly attributed to key growing states Telangana, Karnataka, Gujarat and Maharashtra. The balance sheet projects total cotton supply of 37.60 million bales, a domestic consumption of 31.60 million bales, exports of 4.70 million bales and a carry‐over stock of 1.3 million bales.
Plexus Market Comments 11 April
  • So where do we go from here?

    For several weeks the action has been dictated by spec buying into trade selling. With the bullish momentum fading, specs will probably take a breather, which would allow the market to ease off some more. However, we don’t see the trade chasing the market too far down with their hedge selling.
PCCA Cotton Market Weekly
  • APRIL 12, 2019

    BULLISH NEWS LIFTS FUTURES AT WEEK’S END

    • DECEMBER MAKES NEW HIGH FOR THE YEAR
    • WASDE FAILS TO SPUR ACTIVITY
    • TRADE TALKS MAKE PROGRESS
    • CHINA ANNOUNCES IMPORT QUOTA INCREASE
Cleveland On Cotton 12-Apr-2019
  • Riding the Export Wave

    Cotton prices continue to ride the export wave as U.S. export sales exploded with more than 500,000 bales booked during the prior week. USDA did release its April world supply demand report which was seemingly bearish, but was totally faded by the market.
Rose On Cotton 14-Apr-2019
  • ICE Cotton Extends Weekly Winning Streak 5 As China Issues Additional Import Quota

    ICE cotton extended its winning streak to five in a row for the week ending April 12, with the July contract gaining 27 points (491 over the last five weeks) to finish at settling 78.86. The Dec contract gained 30, settling at 77.19. The July – Dec inversion was off slightly at 167 but will likely continue to prompt merchants to offshore old crop stocks.
U.S. EXPORT SALES
  • For Week Ending 11-04-2019

    2018-2019
    Net Upland Sales 2,17,500
    Upland Shipments 3,40,000
    Net Pima Sales 14,300
    Pima Shipments 11,500
    TOTAL SALES 2,31,800

    2019-2020
    Net Upland Sales 20,600
    Net Pima Sales 2,200
    TOTAL 22,800
PCCA Cotton Market Weekly
  • APRIL 18, 2019

    A VOLATILE WEEK FOR COTTON FUTURES, BUT SOME POSITIVE NEWS NOTED

    • West Texas and Oklahoma Receive Rain, More in the Forecast
    • Positive Economic News for U.S. and China
    • A Strong Export Sales Report
    • Both Sides Signal Progress in Trade Talks
    • Crop Prospects Taking Center Stage
Cleveland On Cotton 18-Apr-2019
  • Weather and Trade – Hedging is Key

    Cotton prices continue locked in their technical channel with new crop fighting to climb above 78 cents while the old crop July struggles to breech the 80 cent mark. July’s objective is the 82.50-85.00 cent range, but December will continue to face a near impossible barrier just below 80 cents.
Reinhart Cotton Market Report 18 Apr
  • India – All India daily cotton arrivals are reported to be about 75’000 bales. Active import business continued for West African & US origins.
    The Indian Meteorological Department (IMD), in its first long-range forecast for the south-west monsoon, predicted that the monsoons will be near-normal for the current year.
Plexus Market Comments 18 April
  • So where do we go from here?

    We feel that the market is fairly priced at the current level and that May is probably not far from its “cash equivalent value” at around 7600. Therefore, if takers were to emerge who simply look at the certified stock as a recap to put against export sales, then there is no need for the market to go much lower, nor do we need to see full carry.
Rose On Cotton 19-Apr-2019
  • ICE COTTON POSTS MODEST WEEKLY SETBACK, CONTINUES TO FIND SUPPORT

    ICE cotton posted a modest loss for the abbreviated trading week, with the Mar contract giving up 59 points to finish at 78.27. The Dec contract gave back 14 at 77.05. The July – Dec inversion weakened to 122 but remains a bullish near-term and bearish longer-term omen.