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DTN Closing Cotton 09/01 13:32
Cotton Lower, Then Quieter
Initially, the cotton market fell some 200 points Tuesday before slightly
recovering and then went quiet.
Keith Brown
DTN Contributing Cotton Analyst
Initially, the cotton market fell some 200 points Tuesday before slightly
recovering and then went quiet. Apparently, at the outset of a new month, the
market felt the weight of huge, long-positioned speculators, but also had
concerns of the imminent 2026 harvest.
This Thursday, USDA will release its latest round of export sales. Last week
saw reduced net-sales of 95,000 bales for the current season, and 30,000 for
the 2027/2028 year. Shipments tallied 181,000 bales, also considered low.
Iranian President Masoud Pezeshkian told the Shanghai Cooperation
Organization Summit on Tuesday that Tehran would immediately reciprocate if
Washington were to agree to return to its commitments under the interim deal
signed in June. However, energy prices extended gains Tuesday as traders mulled
the threat of escalation when a tanker was struck by three unknown projectiles
while transiting Hormuz on Monday.
For Tuesday, December closed at 91.55 cents, down 159 points; March 2027
finished at 93.68 cents, minus 146 points; and July 2027 settled at 94.22
cents, 115 points lower. Tuesday's estimated volume was 64,416 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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