Spanish crop update
The crop continues to develop normally, and overall presents a very satisfactory appearance. No significant pest attacks have thus far come to light. However, plants continue to show a delay of about one week versus last year, which means that ginning will only start at the very end September or in early October. Cotton will thus only be available for shipment in volume during the second half of October.
Given the good condition of the crop, forecasts of the lint outturn are generally maintained. Cotton Outlook’s figure remains at 55,000 tonnes; some observers believe that the final figure will be closer to 60,000
A little over half of the prospective crop has already been sold from first hands. Ginners’ price ideas remain around 300 cent points ‘on’ December futures, basis Middling 1-3/32″, FCA gin.
Cotton in Las Marismas growing region of Sevilla
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