Warehousers Reminded to Submit Weekly Reports
Warehousers are reminded of their obligation to submit to USDA weekly reports for bales made available for shipment (BMAS). The weekly reports are required even if a warehouse has no activity during a reporting week.
Because warehouses have shipped most of their cotton inventory by the summer and may not have any active shipping orders, warehouses may be tempted to skip reports, but strikes will be earned for failing to report. According to Amendment 2 of their Commodity Credit Corp. Cotton Storage agreement, warehouses have until the close of business on the first business day of the week to submit a BMAS report for the previous week.
The number of warehouses that earned strikes during the last 12 months has declined and now stands at 52, compared with 58 at the comparable point in the previous crop year. Weekly updates of “U.S. Warehouses Not Complying with Mandatory Reporting” are on the NCC’s website at www.cotton.org/tech/flow/whsnotrept.cfm.