Cotton futures are trading 45 to 126 points higher this morning after closing limit down on Monday. We have expanded limits of 400 points today. Trade tensions are high as China is planning on raising tariffs on $60 billion of US goods to counter the US hike from last week. However, President Trump continues to hint that a resolution could come quickly. US planting progress was reported at 26% in the Monday afternoon Crop Progress report, vs. the 32% average and 34% last year. The Cotlook A index for May 10 was down 120 points from the previous day to 80.70 cents/lb. The weekly Average World Price (AWP) is now 64.65 cents/lb, down 3.62 cents from last week.
--provided by Brugler Marketing & Management