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DTN Closing Cotton 03/12 13:31
Cotton Stays Positive
Despite swirling price swings in certain outside markets today, the cotton
market managed to post a positive close.
Keith Brown
DTN Contributing Cotton Analyst
Despite swirling price swings in certain outside markets today, the cotton
market managed to post a positive close. Traders have one eye on the Middle
East and the other on the upcoming cotton reports.
Highlights from today's export sales included net sales of 253,177 bales for
the 2025/26 (current) marketing year and 36,617 for 2026/27 for a total of
289,794.
This was the highest amount sold since Feb. 12. Cumulative sales have
reached 81% of the USDA's seasonal forecast versus a five-year average of 93%.
Shipments totaled 370,131 bales and was a marketing-year-high.
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.
Friday at 3:30 p.m. EDT, the CFTC will update its Commitment of Traders
data. Last week, the managed-money funds net sold some 7,500 positions,
increasing their net-short carry to 73,973 contracts. For context, their record
bearish position stands at 81,358 contracts.
For Thursday, July closed at 67.15 cents, up 7 points; December 2026 closed
at 69.87 cents, plus 10 points; and March 2027 finished at 70.85 cents, 9
points higher. Thursday's estimated volume was 562,603 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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