NATURAL GAS: Henry Hub down 66 cents to $4.79. The price of the 12-month strip averaging November 2021 through October 2022 futures contracts declined 19 cents to $4.530 (VIEW REPORT)
Cash Prices
DROUGHT MONITOR: Rain continues to improve drought conditions in the Northern Plains and Minnesota, shrinking areas of Extreme Drought (VIEW REPORT)
Weather
CME GRAINS: Corn: $5.3225 (-7.00); Soybeans: $12.24 (-21.50); Wheat: $7.4125 (-8.00); Cotton: $106.14 (-4.59)
National Corn Wire
STOCK UPDATE: Dow 30: 35,603.08 (-6.26); Nasdaq: 15,215.70 (+94.02); S&P 500: 4,549.78 (+13.59)
Market Update
COTTON EXPORTS: Net sales of 391,800 RB for 2021/2022 were up noticeably from the previous week and up 20 percent from the prior 4-week average (VIEW REPORT)
National Cotton Wire
Short Range Weather: Wet Weather Pattern in the West; Severe Storms in the Eastern U.S. (View Report)
Weather
SCHWIETERMAN GRAIN: Export sales were good with 1.27 MMT of corn and 262,500 MT of milo. That, coupled with strong ethanol production, indicate that demand is pretty darn good right now (VIEW REPORT)
NBW Market Commmentary
GRAIN TRENDS (Short Term/Long Term): CORN: Up/Up; WHEAT: Up/Up; SOYBEANS: Down; Down (VIEW REPORT)
National Corn Wire
DAILY EXPORT SALES: Private exporters reported to the USDA export sales of 130,000 metric tons of corn for delivery to Mexico during the 2021/2022 marketing year (CHANNEL 804)
Exports
THIS WEEK IN PETROLEUM: The U.S. average regular gasoline retail price increased nearly 6 cents to $3.32 per gallon on October 18, $1.17 higher than a year ago (VIEW REPORT)
Market Update
The USDA reported cottonseed meal (Kansas City -T) at $335.00, compared to $335.00 last week and $320.00 last year
Cash Prices
CROP PROGRESS: 35% of the cotton in Texas had been harvested by October 17th, compared to 29% last week and 41% last year
Crop Progress
CROP PROGRESS: 28% of the cotton in the U.S. had been harvested by October 17th, compared to 20% last week and 33% last year (VIEW REPORT)
National Cotton Wire
CROP CONDITION: 64% of the U.S. cotton crop is rated good or excellent, compared to 64% last week and 40% last year
Crop Progress
WEEKLY COTTON REVIEW: The weekly average was down from 105.00 cents last week, but up from 63.08 cents reported the corresponding period a year ago (VIEW REPORT)
National Cotton Wire
Cotton Outlook (Domestic): USDA’s October Crop Production report forecasts 2021 U.S. cotton production at 18 million bales, 500,000 bales below last month’s forecast but 23 percent (3.4 million bales) above the 2020 crop (VIEW REPORT)
National Cotton Wire