0 MP_CN002 Memphis, TN Cotton Program, MNB 18-Mar-10 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 26.5 to 28.4 grams per tex and uniformity 80.5 to 81.4. American Pima quotations are UD free, FOB warehouse, and brokerage fees included. UPLAND SPOT PRICE QUOTATIONS SPOT TRANSACTIONS Color 41 Color 31 Usuable sales provided Growth Basis Leaf 4 Leaf 3 to Cotton Programs Area N.Y. Futures Staple 34 Staple 35 Today Season Points Month cents/lb. cents/lb. bales bales Southeast -400 May-10 78.21 80.46 6,879 129,265 North Delta -450 May-10 77.71 79.21 80 26,630 South Delta -450 May-10 77.71 79.21 0 17,789 East TX-OK -996 May-10 72.25 76.25 402 158,785 West Texas -971 May-10 72.50 77.00 1,065 486,352 Desert SW -950 May-10 72.71 79.46 0 643 SJ Valley -775 May-10 74.46 85.21 0 709 Upland total Average -713 May-10 75.08 79.54 8,426 820,173 Previous -683 May-10 74.34 78.80 AMERICAN PIMA SPOT PRICE QUOTATIONS Grade 2 Grade 3 Grade 3 SPOT TRANSACTIONS Staple 46 Staple 44 Staple 46 AP total American Pima 125.00 107.00 112.00 0 15,746 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 3/3/2010 76.01 May-10 82.21 81.17 1.04 Season low Jul-10 83.04 81.99 1.05 8/26/2009 50.98 Oct-10 76.79 76.04 0.75 Dec-10 75.15 74.55 0.60 EFFECTIVE Mar 12 - Mar 18 Mar-11 76.07 75.55 0.52 AWP 68.21 May-11 76.50 75.97 0.53 CC ADJ. 0.00 Jul-11 76.69 76.28 0.41 LDP 0.00 Oct-11 78.10 77.72 0.38 EFFECTIVE Mar 12 - Mar 18 Dec-11 77.07 76.95 0.12 PCP 11.97 Mar-12 77.57 77.45 0.12 AVERAGE PREMIUMS AND DISCOUNTS - TENDERABLE QUALITIES 3/ COLOR COLOR COLOR COLOR COLOR 11 21 31 41 51 STAPLE 33 LEAF 1 & 2 18 18 -3 -135 -285 3 13 13 -13 -145 -298 4 -90 -90 -130 -215 -328 5 -213 -213 -230 -310 -493 STAPLE 34 LEAF 1 & 2 225 225 190 73 -165 3 205 205 175 60 -193 4 120 120 90 0 -248 5 -53 -53 -98 -188 -383 STAPLE 35 LEAF 1 & 2 490 490 410 185 -115 3 420 420 380 155 -140 4 265 265 222 95 -200 5 125 125 80 -140 -330 COLOR COLOR COLOR 12 22 32 STAPLE 33 LEAF 1 & 2 -70 -70 -165 3 -85 -85 -180 4 0 5 0 STAPLE 34 LEAF 1 & 2 85 85 -13 3 70 70 -38 4 0 5 0 STAPLE 35 LEAF 1 & 2 198 198 53 3 165 165 20 4 0 5 0 1/ Settlement prices provided by New York Cotton Exchange. 2/ The average of the differences from the Southeast, North and South Delta average, East Texas-Oklahoma, West Texas, and Desert Southwest markets. Cotton Program, Market News Branch 3275 Appling Rd Memphis, TN 38133 (901) 384-3016 www.ams.usda.gov/mnreports/mp_cn002.txt