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Cotton futures are trading 100 to 130 points higher this morning, with several contracts breaking out into new highs. They ended Turnaround Tuesday with most nearby contracts 6 to 25 points higher. The weekly USDA Crop Progress report showed TX at 28% planted, 5% above normal, with GA 10% faster than average at 41% complete. Consultant Informa estimates US 2018 all cotton plantings at 14 million acres, above the current USDA number of 13.47 million acres. The Cotlook A index was UNCH from the previous day to 93.1 cents/lb on May 14. The USDA Adjusted World Price for this week is 75.58 cents/lb, up 59 points from the week prior.

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