DTN Closing Cotton            02/19 13:33

   Cotton Nudges Higher

   The cotton market was somewhat higher today with Spot March the main center 
of attention as growers squared positions for Monday's delivery.

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market was somewhat higher today with Spot March the main center 
of attention as growers squared positions for Monday's delivery. Otherwise, 
traders are awaiting other news reports into the weekend.

   In today's USDA Ag Outlook Forum, the tabulators pegged the 2026 crop at 
9.40 million acres. This was above the NCC survey of 8.99 million acres.

   Weekly export sales are delayed until Friday due to the observance of 
Presidents Day. Last week saw combined seasonal sales nearing 285,000 bales, 
off some 8%, while shipments were 188,600, down 20%. The report will be out at 
8:30 a.m. EST.

   Also Friday at 3:30 p.m. EST, the CFTC will update its Commitment of Traders 
data. Its last calculation showed that the managed-money funds had increased 
their net-short position to 75,602 contracts. Their record concentration from 
last October stands at 81,343 contracts.

   This Monday commences the delivery process for March cotton. Any producer 
tied to the March contract must either flatten or roll by the close Friday to 
avoid the delivery process. Current open interest for Spot March is 27,850 
contracts.

   For Thursday, July closed at 65.73 cents, up 26 points; December 2026 closed 
at 68.27 cents, plus 16 points; and March 2027 finished at 69.49 cents, 11 
points higher. Thursday's estimated volume was 66,361 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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