Cotton futures are trading 44 to 88 points higher this morning. They were 43 to 72 points lower in the nearby contracts on Thursday. May cotton options expire today, resulting in some position squaring activity. USDA reported that 288,975 RB of 18/19 upland cotton was sold during the week of 4/4, with 43,598 RB to China. That was the third largest weekly sales this MY, and up 61.12% from the same week in 2018. Vietnam was the top buyer of 91,700 RB, with India purchasing 70,000 RB. New crop sales were a marketing year high 205,917 RB, as China purchased 36,520 RB and 131,200 RB was sold to Vietnam. Weekly shipments were reported at 383,337 RB, which was the second largest total reported this MY. The Cotlook A Index was down 65 points at 87.70 on April 10. The weekly AWP was updated to 69.21, 99 points higher than the previous week.
--provided by Brugler Marketing & Management