Cottonseed prices are firm across all origins. Ginning is still struggling to begin. Gins are reporting disappointing yields on the first harvested cotton. Tropical Storm Zeta looks like it will make landfall Wednesday and push through the southern cotton belt where additional rain is not needed.
I don’t see any price relief in sight. Right now it’s all about finding the liquidity at the origins to have the ability to make sales at the destination. Harvest pressure will be minimal at this point due to the daily higher bids to the gins. They will hold out as long as possible for a higher number. Also, the pipeline is now completely depleted. Traders are bidding up the spot market to load railcars and dairies need it for immediate feed. This supports the price as gins wait out the higher number.
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