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DTN Closing Cotton 06/15 13:36
Cotton Market Ends Timidly Higher Monday
The cotton market was slightly higher today as traders assess the meaning of
the U.S./Iran peace deal, among other and lesser revelations.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market was slightly higher today as traders assess the meaning of
the U.S./Iran peace deal, among other and lesser revelations. With that,
trading volume was muted versus recent sessions. However, in the bigger
picture, traders are mainly awaiting USDA's acres data on June 30.
This afternoon at 4 p.m. EDT, USDA will release its weekly Crop Progress
report. Last week, the agency pegged the pace of 2026 plantings at 77%, with a
good-to-excellent rating of 53%.
The Federal Reserve meets this week, Tuesday and Wednesday, to discuss and
decide on the future of U.S. interest rates. Under its new chairmanship, the
central bank is not expected to take any action.
The 6- to 10-day forecast covering June 20-24 indicates normal temperatures
for Texas and the northern Delta region, while the Southeast favors
above-normal temperatures. Rain wise, Texas and much of the Delta have
above-normal chances, while the Southeast appears to have only slight
opportunities for meaningful precipitation.
The market will be closed this Friday for the Juneteenth holiday. The ICE
futures will reopen the following Sunday night at 9 p.m. EDT, but likely
certain reports will be pushed back a day.
For Monday, July closed at 73.43 cents, up 49 points; December closed at
76.81 cents, plus 39 points; and March 2027 finished at 78.12 cents, up 48
points. Monday's estimated volume was 49,891 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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