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O.A. Cleveland's weekly analysis says cotton prices eased toward 62 cents with December futures settling at 61.94 cents.
He argues the world already holds a full year's usage in stocks, and that a likely U.S. crop 3-4 million bales below average is not enough to offset carryover.
Large world carryover stocks outweigh a smaller U.S. crop, keeping cotton bearish, which weighs on cottonseed meal supply economics.
cottongrower.comDr. O.A. ClevelandJul 20, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
