0 MP_CN002 Memphis, TN Cotton and Tobacco Progr 22-May-20 Spot quotations and differences are for cotton equal to the official standards, net weight, in mixed lots. Upland quotations are FOB car/truck, which includes compression and any brokerage charges. The upland base quality is color 41, leaf grade 4, staple 34 (1.05 to 1.07), mike 3.5, 3.6 and 4.3 to 4.9, strength 27.0 to 28.9 grams per tex and uniformity 81.0 to 81.9. American Pima quotations are UD free, FOB warehouse, and brokerage fees included. UPLAND SPOT PRICE QUOTATIONS SPOT TRANSACTIONS Color 41 Color 31 Number of bales provided Growth Basis Leaf 4 Leaf 3 to Cotton Program Area ICE Futures Staple 34Staple 35 Today Season Points Month cents/lb.cents/lb. bales bales Southeast -200 Jul-20 55.61 57.86 640 55,269 North Delta -275 Jul-20 54.86 57.11 3,570 110,460 South Delta -275 Jul-20 54.86 57.11 0 11,069 East TX-OK -475 Jul-20 52.86 55.11 186 527,067 West Texas -475 Jul-20 52.86 55.36 78 739,026 Desert SW -725 Jul-20 50.36 54.36 200 49,950 SJ Valley -675 Jul-20 50.86 59.76 0 0 Upland total Average -443 Jul-20 53.18 56.67 4,674 1,492,841 Previous -443 Jul-20 53.63 57.12 AMERICAN PIMA SPOT PRICE QUOTATIONS Grade 2 Grade 3 Grade 3 SPOT TRANSACTIONS Staple 46Staple 44Staple 46 AP total American Pima 110.00 90.50 98.25 0 2,064 NEW YORK FUTURES - CONTRACT NO. 2 2/ 7-MARKET AVERAGE COLOR 41 LEAF 4, STAPLE 34, MIKE 35-49, BASE QUOTATIONS STRENGTH 25 OR GREATER. FOR UPLAND COTTON Month Cents per pound Season high Today Previous Change 1/13/2020 67.07 Jul-20 57.61 58.06 -0.45 Season low Oct-20 57.51 58.37 -0.86 4/1/2020 43.23 Dec-20 57.81 58.70 -0.89 Mar-21 58.73 59.47 -0.74 EFFECTIVE May 22 - May 28 May-21 59.57 60.04 -0.47 AWP 48.01 Jul-21 60.23 60.40 -0.17 CC ADJ. 0.00 Oct-21 58.90 59.31 -0.41 FC ADJ. - 2 0.43 Dec-21 58.60 59.01 -0.41 FC ADJ. - 2 0.28 Mar-22 59.54 59.76 -0.22 LDP 3.99 May-22 60.24 60.31 -0.07 EFFECTIVE May 22 - May 28 PCP 6.00 AVERAGE PREMIUMS AND DISCOUNTS - TENDERABLE QUALITIES 3/ COLOR COLOR COLOR COLOR COLOR 11 21 31 41 51 STAPLE 33 LEAF 1 & 2 -103 -103 -153 -295 -515 3 -123 -123 -163 -305 -520 4 -225 -225 -275 -385 -550 5 -345 -345 -390 -525 -710 STAPLE 34 LEAF 1 & 2 137 137 72 49 -275 3 112 112 67 43 -295 4 60 60 45 0 -350 5 -120 -120 -155 -295 -523 STAPLE 35 LEAF 1 & 2 370 370 300 150 -175 3 315 315 265 102 -190 4 170 170 130 50 -270 5 20 20 -40 -195 -445 Staple 36 Leaf 1 & 2 564 564 499 247 -138 3 524 524 469 197 -148 4 337 337 277 142 -230 5 115 115 40 -108 -405 Staple 37 Leaf 1 & 2 612 612 561 259 -131 3 557 557 516 209 -141 4 364 364 309 164 -213 5 142 142 64 -86 -385 COLOR COLOR COLOR 12 22 32 STAPLE 33 LEAF 1 & 2 -270 -270 -375 3 -285 -285 -390 4 5 STAPLE 34 LEAF 1 & 2 35 35 -115 3 25 25 -135 4 5 STAPLE 35 LEAF 1 & 2 180 180 10 3 140 140 -15 4 5 Staple 36 Leaf 1 & 2 292 292 62 3 237 237 37 4 5 Staple 37 Leaf 1 & 2 339 339 94 3 279 279 64 4 0NOT TENDE 0 5 0NOT TENDE 0 1/ Settlement prices provided by ICE Futures US. 2/ The average of the differences from the Southeast, North and South Delta average, East Texas-Oklahoma, West Texas, and Desert Southwest markets. Cotton and Tobacco Program, Market News Division 3275 Appling Rd Memphis, TN 38133 (901) 384-3016 www.ams.usda.gov/mnreports/mp_cn002.txt