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Cotton futures are 6 to 57 points higher this morning, with most of the softs showing gains in the face of a weaker US dollar. Cotton finished Tuesday with most contracts 8 to 35 points in the red. The Cotlook A index was down 50 points from the previous day on March 12 at 93.90 cents/lb. Cash sales on the Seam were reported at 2,272 bales on Monday, with prices averaging 70.73 cents/lb. The Adjusted World Price (AWP) was updated to 74.13 cents/lb, down 104 points from last week. Brazil is expected to plant 2.923 million acres of cotton in 17/18, nearly 26% above 16/17 according INTL FCStone. China sold 24,300 MT of the near 30,000 MT offered at an auction of state reserves on Tuesday. This was perceived as solid buying interest and suggesting a need for imported cotton to blend with the reserve stocks.

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