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Re: CT 15min WASDE Report

Thank you Joakim.
Move lower, holding 8030 for the time being.
Upside Retracement (intra-day)
38.10% 8196
50% 8248
61.80% 8299

IMO, the data, was not as bearish as the market reaction. The reaction likely in part to the recent run-up.
US exports unchanged. US ending stocks 5.70M vs 5.80M last month.
World ending stocks 87.79M vs 88.9M last month. World production 120.97 M vs. 119.96.
Here are some remarks from USDA :

COTTON: This month’s 2017/18 U.S. cotton forecasts include slightly lower production and
ending stocks. Production is reduced 177,000 bales due to small declines in regions outside
the Delta. Ending stocks are reduced 100,000 bales, while domestic mill use and exports
are unchanged. The forecast for the marketing year average price received by producers is
raised 3 cents per pound, to a midpoint of 69 cents.

Offsetting changes in foreign production and consumption characterize the global 2017/18
cotton forecasts this month. Global production is raised 1.0 million bales as a 1.4-millionbale
increase for China is only partly offset by small decreases in India, the United States,
and Australia. Global consumption is raised 1.2 million bales largely due to a 1.0-million-bale
increase for China. World consumption is forecast to grow at a 5.2 percent annual rate in
2017/18, more than double its long-run level. Projected world ending stocks are changed
slightly this month, down 200,000 bales from December, but at 87.8 million bales are still
forecast marginally higher than the year before.

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CT 15min WASDE Report *NM* *PIC*
Re: CT 15min WASDE Report
Re: CT 15min WASDE Report
Re: CT 15min WASDE Report ( Jack )
Re: CT 15min WASDE Report ( Jack )
Re: CT 15min WASDE Report ( Jack )