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DTN Closing Cotton 12/29 13:32
Outside Markets Disrupt Cotton
The cotton market was somewhat "unnerved" by lower to sharply lower outside
markets.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market was somewhat "unnerved" by lower to sharply lower outside
markets. The precious metals in particular were wildly clobbered, and to a
lesser degree the Chicago grains. Thus, cotton finished flat to slightly lower.
USDA will release its next export sales reports this Wednesday, covering the
time period of Dec. 18. The last report showed China as a meaningful buyer.
The CFTC will issue a Commitment of Traders update today and then again on
Jan. 5. At last count, the managed-money traders were net short some 55,000
contracts. For context, their record bearish position was 81,000-plus contracts.
As of this writing, the cotton market will trade a normal session on New
Year's Eve, and again on Friday. Of course, trading will be suspended on New
Year's Day.
For Monday, March 2026 went out at 64.35 cents, down 14 points; July was
66.84 cents, minus 11 points; and December 2026 closed at 68.20 cents, down 4
points. Monday's estimated volume was 37,122 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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