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DTN Closing Cotton 08/06 13:32
Cotton Holds Steady Despite Weak Export Sales
The cotton market sloughed off less-than-robust export sales to close
essentially unchanged.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market sloughed off less-than-robust export sales to close
essentially unchanged. ICE futures continue to exhibit a certain technical
resilience, even while the market's fundamentals slowly unfold and emerge.
Highlights from Thursday's weekly export sales included a marketing-year-low
sales number of 55,000 bales for the ending 2025/2026 season, while sales for
the 2026/2027 crop year were 242,100 bales. Weekly shipments were 222,800
bales, with both categories below last week's numbers.
Friday at 3:30 p.m. EDT, the CFTC will update its Commitment of Traders
data. The previous report showed that the managed-money funds net sold some 700
positions, slightly reducing their net-long carry to 52,410 contracts.
Next week, Wednesday, Aug. 12, USDA will present its August crop report,
updating the various supply-demand tables. Last month, the 2026 crop was raised
from 13.30 million bales to 13.70 million bales, while ending stocks were also
increased from 3.70 million bales to 4.10 million bales. The data will be out
at noon EDT.
For Thursday, December closed at 83.16 cents, plus 14 points; March 2027
finished at 84.89 cents, up 18 points; and July 2027 settled at 85.75 cents, up
24 points. Thursday's estimated volume was 41,320 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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