DTN Closing Cotton            06/08 13:43

   Cotton Market Steadies as Traders Await Key Data

   After its bearish drop last Friday, the cotton market kept somewhat steady 
today, awaiting the next influence to emerge.

Keith Brown
DTN Contributing Cotton Analyst

   After its bearish drop last Friday, the cotton market kept somewhat steady 
today, awaiting the next influence to emerge. New-crop December found support 
toward the lower side of its 77.90-77.20 cent retracement support box. As the 
week unfolds, traders will be assessing crop progress data, export sales 
numbers, the June WASDE tables and the next CFTC update.

   This afternoon at 4 p.m. EDT, USDA will present its crop progress report. 
Last week saw the 2026 crop some 66% planted. That pace was right on the heels 
of the five-year average of 67%.

   Option expiration for the July contract is Friday, June 12, while the Spot 
July contract commences delivery on June 24 and runs through July 9.

   This Thursday, USDA will issue weekly export sales at 8:30 a.m. EDT. Last 
week's business saw sales of 185,268 bales for the current marketing year and 
77,145 for 2026/27 for a total of 262,413. The prior combined season sales were 
265,663 bales, with the four-week moving average running around 216,000.

   Also on Thursday, at 12 p.m. EDT, USDA will issue the June WASDE. Last 
month, government tabulators projected the 2026/2027 crop to be 13.30 million 
bales, with a domestic carryout of 3.90 million, and a global supply of 275.05 
million bales. We also note that the official Planted Acres report will be 
released on June 30.

   For Monday, July closed at 73.39 cents, down 36 points; December closed at 
77.61 cents, plus 13 points; and March 2027 finished at 78.87 cents, 7 points 
higher. Monday's estimated volume was 106,245 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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