Turnaround Tuesday trading has cotton futures down by triple digits in the old crop contracts. New crop futures are off their lows and 2 to 12 points in the red at midday. 

NOAA’s updated 7-day QPF has rainfall in E. TX and N. LA amounting to as much a s1 3/4”. Northern MS/GA/AL will also get up to an inch over the week. 

After the close, NASS reported US cotton planting was 3% finished nationally with AZ at 6% and TX at 5%. The 5-yr average pace would be 4% planted as of 3/31. 

The Cotlook A Index was back down by 235 points to 95.60 cents/lb on 3/28. USDA’s weekly Cotton Market Review had 7,069 bales sold during the week for an average price of 85.19 cents/lb. USDA’s FSA lowered the week’s Adjusted World Price of cotton by 162 points to 70.88 cents/lb. ICE certified stocks were shown at 52,224 bales as of 3/27. 

May 24 Cotton  is at 91.36, down 140 points,

Jul 24 Cotton  is at 92.3, down 101 points,

Dec 24 Cotton  is at 84.35, unch