| |
DTN Closing Cotton 03/16 13:31
Cotton Holds Firm as Drought, Chinese Demand Fuel Gains
Despite crude, grains, and gold "cratering", the cotton market was able to
hold on to its gains today. Concerns over growing conditions, as well as the
possibility of Chinese buying, are keeping "a bid" under the fiber market.
Keith Brown
DTN Contributing Cotton Analyst
Despite crude, grains, and gold "cratering", the cotton market was able to
hold on to its gains today. Concerns over growing conditions, as well as the
possibility of Chinese buying, are keeping "a bid" under the fiber market.
The Trump/Xi meeting may be postponed until late April, resulting in a swift
retreat in the Chicago Grains. Still, the Chinese expressed buying interest in
other "non-soybean crops", implying cotton, when that time comes. That
revelation helped buoy the ICE Market.
The Climate Prediction Center revealed that 88% of the US Cotton planted
area is suffering some form of drought. The current six-to-ten day outlook has
below to much-below chances for rain for the entirety of the Cotton Belt, as
well as above to much-above temperatures.
This week, traders will see various economic reports and events, including
retail sales, housing starts, the meeting of the Federal Reserve, and weekly
exports-sales.
USDA will issue its Planting Intentions Report on March 31. This will be the
first official look at 2026 acres. The survey is conducted in the first two
weeks of March.
For today, July closed at 7006, up 217 points, December 26 closed at 7198,
plus 165 points, and March 2027 finished at 7287, 162 points higher. Today's
estimated volume was 170,655 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
(c) Copyright 2026 DTN, LLC. All rights reserved.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.
|
|
