Front month cotton prices gained 98 to 111 points on the day. The dollar index continues to work lower following a blitz of spending and regulatory announcements on the first day of the Biden administration. USDA’s Daily Spot Quotations reported 16,145 bales sold on 1/21, for an average of 78.64 cents/lb. The average basis strengthened 21 points on average, but was 50 points better in each: E. TX-OK, W. TX, AZ-NM, and CA. New crop cotton planted acres were estimated to be 11.5 million, by private firm IHS Markit. That was a 1.5m acre drop from their December forecast. ICE certified stocks were 2,018 higher on Jan 19 to 68,631 bales. The Cotlook A index half a cent higher to 87.60 cents/lb. USDA’s FSA raised the AWP for cotton another 47 points to 66.7 cents/lb.
| Mar 21 Cotton closed at 82.57, up 98 points, |
| May 21 Cotton closed at 83.5, up 100 points |
| Jul 21 Cotton closed at 84.3, up 102 points |
| Dec 21 Cotton closed at 79.04, up 109 points |
--- provided by Brugler Marketing & Management
