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DTN Closing Cotton 03/18 13:33
Cotton Market Posts Small Technical Decline Wednesday
After a series of higher closings, the cotton market posted a small
technical decline today.
Keith Brown
DTN Contributing Cotton Analyst
After a series of higher closings, the cotton market posted a small
technical decline today. However, the entire cotton complex is nearing the
point where all contract months will be above the 70-cent mark.
The Federal Reserve announced today that interest rates will remain
unchanged.
Thursday, USDA will issue its weekly export sales data. Last week saw
current season sales at 254,000 bales, up 68%, while shipments were 370,000
bales, a marketing-year-high. The report will be out at 8:30 a.m. EDT.
The White House announced today that China had agreed to postpone President
Trump's visit to Beijing. The meeting was delayed as the war with Iran
continues in its third week. The U.S./China trade mission has been tentatively
pushed out some six to seven weeks.
On Friday at 3:30 p.m. EDT, the CFTC will update its Commitment of Traders
information. At last count, the managed-money funds were net short a hefty
66,700 contracts. However, given the big volume of Monday and Tuesday, their
bearish position may have lessened.
USDA will issue its Planting Intentions report on March 31 at noon EDT. This
will be the first official look at 2026 acres.
For Wednesday, July closed at 70.57 cents, down 18 points; December 2026
closed at 72.64 cents, minus 1 point; and March 2027 finished at 73.47 cents, 2
points lower. Wednesday's estimated volume was 86,811 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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