Cotton futures are 20 to 60 points higher this morning after they settled mostly 44 to 94 points lower on Thursday, with thinly traded Oct down 159 points. Weekly cotton sales totaled 12,980 RB for old crop, a marketing year low. The marketing year ends July 31, so time to ship is becoming an issue. New crop sales also showed a drop wk/wk to 152,635 RB, but were still 34.3% larger than last year. All upland cotton shipments of 195,281 RB were reported, a 31.36% rise over last year but down 35.44% from a week ago. Total commitments for all upland cotton have reached 63.4% above a year ago, with just under 4 reporting weeks left for the Marketing year. As a percent of the USDA projection, total export commitments are 108%, above the last year and the average of 106% for this date. The Cotlook A index for July 12 was up 25 points to 83.70 cents/lb.

Market Commentary provided by:

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