News

The latest USDA report featured a small decrease in global production (-224,000 bales to 121.6 million) and a small increase to global mill-use (+170,000 bales to 124.3 million).

The latest USDA report featured increases to 2021/22 global production (+1.5 million bales to 121.8 million) and mill-use (+0.7 million bales to 124.1 million).

Most benchmark prices surged between late September and the present. After touching values below 90 cents/lb on September 20, the December NY/ICE futures contract surged higher.

U.S and Chinese benchmark prices increased in early August but were flat to lower later in the month and through early September.

Most benchmark prices increased last month. Values for the December NY/ICE futures contract held between 88 and 90 cents/lb for much of July. In early August, futures resumed their climb and have reached levels over 93 cents/lb.