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DTN Closing Cotton            07/03 13:32

   Cotton Creaks Lower  

   The cotton market gave up its earlier gains to close slightly lower 
Thursday. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market gave up its earlier gains to close slightly lower 
Thursday. It was a thin holiday trade; the market is closed Friday in 
observance of Independence Day.

   Highlights from Thursday's export sales showed new-crop sales were the 
second highest since March.  However, cumulative sales for 2025-26, at 1.82 
million bales, are the lowest for this point in the season for new-crop sales 
since 2014-15. However, accumulated exports are running ahead of a year ago.

   President Trump will visit the Iowa State Fair on Friday and rumors are 
flying he may announce some sort of agricultural trade deal with China.

   July cotton remains in delivery. There were zero notices Thursday. Thus far, 
there have been a total of 226 notices tendered. The period ends on July 9.

   The CFTC has delayed its Commitments of Traders report till Monday at 3:30 
p.m. EDT. Last week, the data showed the managed-money funds last week, had 
bought in some 2,800 positions, reducing their net-short carry to some 48,500 
contracts.

   On Monday at 4 p.m. EDT, USDA will update its crop progress/condition 
numbers. Last week's reading showed the 2025 cotton crop was 95% planted, and 
was rated at 51% good to excellent.

   The 6- to 10-day weather outlook (July 8-July 12) shows West Texas with 
normal to below-normal temperatures, while the Delta and the Southeast look to 
have much-above normal readings. Rain-wise, most of the U.S. Cotton Belt looks 
to have normal to slightly-above normal opportunities. 

   For the abbreviated week, December cotton was off 90 points.

   For Thursday, December 2025 halted at 68.47 cents, minus 16 points, while 
March 2026 stopped at 69.77 cents, off 13 points. Thursday's estimated volume 
was 25,610 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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