United States: strong forward sales

In addition to another impressive upland sales figure for the current season and a steep change in the pace of export shipments, yesterday’s export report was noteworthy for the magnitude of sales commitments (315,100 running bales) reported for shipment during the next marketing year. By late January, upland sales for shipment in 2022/23 totalled 1,713,700 running bales, the second highest total of the past ten years.

With 522,400 running bales ((over 30 percent of overall commitments), Pakistan is comfortably the single largest destination for next season’s sales. Other prominent markets are Mexico (378,300 running bales), China (192,600), Bangladesh (154,000) and Turkey (132,000). These five account for 80 percent of the forward sales figure.

Related Links

• No. 2 cotton futures end mixed but little altered
• Hot, dry weather rules across US cotton belt; isolated storms possible
• No. 2 cotton futures trading on positive ground
• Cotton On-Call report
• ICE No. 2 cotton settles mixed and with modest changes
• Extremely hot, dry conditions further depleting soil moisture levels across US

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