Cotton futures are trading 12 to 45 points higher on Turnaround Tuesday. They posted sharp 123 to 200 point losses on Monday, with March 2019 reaching a multi-year low for that contract. The US dollar index was 424 points higher on Monday but gave back about 25% of that overnight. A National Cotton Council producer survey released in San Antonio showed intended planted cotton acreage 2.9% larger than last year at 14.5 million acres. The Cotlook A Index was down 80 points on February 8 to 82.05 cents/lb. The USDA Adjusted World Price is 64.61 cents/lb through Thursday. China’s ag ministry raised their production number by 0.1 to 6.04 MMT, while also raising their import projection by the same to 1.6 MMT.
--provided by Brugler Marketing & Management