| |
DTN Closing Cotton 04/06 13:30
Cotton Trades Higher
The cotton market somewhat picked up where it left off last week by posting
new highs for this run.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market somewhat picked up where it left off last week by posting
new highs for this run. Adverse growing conditions, potential trade
developments between Trump/Xi, and outside money flows are collectively keeping
a healthy bid under the market. However, a potential fly in the ointment
situation could be the result of President Trump's Hormuz deadline on Tuesday.
The Climate Prediction Center reported that the nation's drought is
worsening. Currently, some 94% of the U.S. cotton planted area is suffering
from varying forms of drought.
Today at 4 p.m. EDT, USDA will issue its first crop progress numbers of the
new season. Numbers may be sparse as the 2026 season is just getting underway.
USDA will issue a new round of export sales on Thursday. Last week saw
combined seasonal sales over 488,000 bales. Shipments were 356,000, down 11%
weekly.
Also on Thursday, USDA will update its supply-demand tables via the April
WASDE. Supposedly, government tabulators will not assign a yield number util
the May report.
For Monday, July closed at 73.84 cents, up 79 points; December 2026 closed
at 75.75 cents, plus 77 points; and March 2027 finished at 76.68 cents, 84
points lower. Monday's estimated volume was 63,327 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
(c) Copyright 2026 DTN, LLC. All rights reserved.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
|
|
