DTN Closing Cotton            06/25 13:35

   Cotton Edges Up Thursday

   Inspired by outside markets, ICE cotton ended today somewhat higher. 

Keith Brown
DTN Contributing Cotton Analyst

   Inspired by outside markets, ICE cotton ended today somewhat higher. Traders 
saw the strength in the energies, grains, and metals, coupled with dollar 
weakness to encourage the recovery. The market is heading toward the month- and 
quarter-end, which has some trading entities squaring their positions.

   Spot July is in delivery and Wednesday saw 527 notices tenders issued. The 
majority of which originated from Term Commodities. Today there were three, 
again from Term Commodities. The delivery period runs through July 7.

   This Friday the CFTC's Commitment of Traders update will be released at 3:30 
p.m. EDT. Last Monday's delayed report showed that the managed-money funds sold 
some 7,000 contracts, reducing their net-long carry to 35,136 positions.

   On June 30, USDA will issue its Planted Acres report. Some analysts are 
expecting greater 2026 acres due to the spring rally to 88.00 cents. It is 
worth noting that the March Intentions were higher than expected. With that, 
the average industry estimates peg U.S. 2026 acreage at 9.63 million acres.

   For Thursday, July closed at 73.40 cents, up 131 points; December closed at 
76.97 cents, plus 71 points; and March 2027 finished at 78.29 cents, 62 points 
higher. Thursday's estimated volume was 36,925 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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