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DTN Closing Cotton 08/05 13:39
Cotton Smartly Advances Wednesday
The cotton market posted new highs for its current move Wednesday, trading
to its highest level since May 19.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market posted new highs for its current move Wednesday, trading
to its highest level since May 19. The market is being driven by a strong
technical up trend, adverse current growing conditions and a weaker U.S. dollar.
Thursday at 8:30 a.m., USDA will issue fresh export sales data. Last week
saw net sales for the 2026/2027 season of 352,400 bales, with shipments of
233,800 bales. Top buyers included Vietnam (245,500), India (42,200) and
Pakistan (18,400).
This 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.
The 6- to 10-day weather forecast (Aug. 10-14) shows much above-normal
temperatures for the length and breadth of the U.S. Cotton Belt. Rain wise,
West Texas should see slightly above-normal chances, while East Texas, the
lower U.S. Delta and South Georgia can anticipate normal opportunities.
For Wednesday, December closed at 83.02 cents, plus 56 points; March 2027
finished at 84.71 cents, up 66 points; and July 2027 settled at 85.51 cents, up
65 points. Wednesday's estimated volume was 64,113 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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